Business

British tech company Claranet acquires Brazil's Mandic

Riverwood Capital has been Mandic's main investor since 2012, and it will retain a minority stake in Claranet

Photo: Screenshot/Claranet
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  • The announcement comes just over two months after Claranet, which operates in 10 countries, raised $ 100 million;
  • With the acquisition, Claranet’s Brazilian operation now has more than 450 employees;
  • Riverwood Capital has been Mandic’s main investor since 2012 and will retain a minority stake.

The Brazilian unit of the British cloud computing group Claranet announced on Monday it has acquired Mandic, a cloud pioneer in Brazil, for an undisclosed amount.

The announcement comes just over two months after Claranet, which operates in 10 countries, raised $100 million with a focus on expanding its operations in Brazil, where it made 3 of the 30 acquisitions in the last 9 years.

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In Latin America’s largest country, where it serves clients including Embraer, Natura, Banco Inter, Bradesco, Samsung, Globo, iFood, and Visa, Claranet has revenues of around BRL 250 million per year.

“We are taking the same path in Brazil that we started in other European countries, combining organic growth with market consolidation, to achieve leadership,” said António Ferreira, of the executive board of the Claranet group.

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With the acquisition, Claranet’s Brazilian operation has now more than 450 employees. Maurício Cascão, president of Mandic, will take over the Innovation area at Claranet. Riverwood Capital has been Mandic’s main investor since 2012 and will retain a minority stake in Claranet.

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