Business

Brazil's flip flop's Havaianas owner to acquire startup for up to BRL 200 million

According to Alpargatas, this acquisition represents another important step in its digital transformation, with a focus on UX

Photo: REUTERS/Nacho Doce
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  • According to the document to Brazil’s Securities and Exchange Commission, Ioasys will continue to operate independently;
  • According to Alpargatas, Ioasys’ growth in recent years has been exponential and profitable.

Brazilian retailer Alpargatas signed an agreement for the acquisition of technology startup Ioasys for up to BRL 200 million, which will pay in five years, partly in cash and partly in shares, according to a notice fact on Monday night.

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The owner of the Havaianas and Osklen brands said that it signed a memorandum of understanding with binding effect with Gilson Almeida Villela Junior and Walter Galvão Neto, the Ioasys’ co-founders.

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According to the document to Brazil‘s Securities and Exchange Commission, Ioasys will continue to operate independently, serving its current customer base and prospecting new ones.

“To serve Alpargatas, a team will be created dedicated to enhancing the growth of the Havaianas brand in the pillars of global expansion, acceleration of online sales, and extension of the product portfolio,” it said.

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According to Alpargatas, this acquisition represents another important step in its digital transformation, with a focus on user experience.

Founded in Belo Horizonte in 2012, Ioasys works with end-to-end digital solutions and a culture centered on the users’ experience. The startup, which has more than 220 employees, develops talent with a recruitment and training platform in digital solutions and agile methodologies.

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According to Alpargatas, Ioasys’ growth in recent years has been exponential and profitable.

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