Claranet announces the acquisition of Mandic in Brazil

Acquisition the latest step in Claranet’s consolidation plans in Brazil, now making the company one of the biggest technology providers in the country.

Claranet, the global technology and managed service provider, has announced the acquisition of Mandic to significantly boost its operation in Brazil. Mandic has 200 cloud technology certifications and a successful 30-year history in the Brazilian technology sector.

The acquisition is the latest step in Claranet's growth plans in Brazil, where revenues have tripled in less than 18 months, now standing at over R$250 million a year £32 million with an EBITDA margin of around 30%. US private equity firm Riverwood Capital has been Mandic’s main investor since 2012 and will retain a minority stake in Claranet Brazil.

With this latest acquisition, Claranet’s Brazilian operation now has more than 450 employees and serves more than 5,000 corporate customers. Major names in the Claranet portfolio include Embraer, Banco Inter, Banco Fibra, Samsung, Travelex, and Sky.

Edivaldo Rocha, CEO of Claranet Brazil, comments:

Claranet are leading the way in public and private cloud, cybersecurity, and digital innovation in Brazil. Our ambition is to continue accelerating our growth, while remaining agile and ensuring we offer the most innovative technology solutions to our customers."

Charles Nasser, CEO of the Claranet Group, added:

Our expansion into Brazil in 2017 was a deliberate move to enter an IT market that is already developed, but at the same time offers high growth potential. We are treading the same path in Brazil that we have taken in Europe, reconciling organic growth with market consolidation to achieve a market-leading position.”

Maurício Cascão, CEO of Mandic, will now assume responsibility for innovation at Claranet Brazil. He commented:

With experience and ambition, Claranet is the right group to create a future of growth in technology for both employees and customers of Mandic. The companies are complementary, and we are very confident."

Francisco Alvarez-Demalde, Co-Founder & Co-Managing Partner at Riverwood Capital added:

We are proud to have supported Mandic during a critical period of its growth, which has seen it become a leading provider of hybrid cloud services in Brazil. We look forward to working with this incredible team as they continue to innovate for their customers and the industry, now in collaboration with one of the top cloud services companies that is Claranet".