Cloud solutions company Tivit is shopping for startups

Tivit, Brazilian company focused on cloud computing and data center services, created an investment arm to buy software as a service (SaaS) companies. Tivit Ventures has R$400 million to invest until 2025, starting with the acquisition of ten startups next year. The acquired startups will receive support in areas like finance, human resources, marketing and sales staff in ten countries in Latin America. Tivit expects to close 2020 with revenues of R$2 billion, 8% more than in 2019. “With the pandemic, a lot of people are looking for migration to the cloud and security services,” says Eduardo Sodero, director of strategy, mergers and acquisitions at Tivit.

Source: Valor International