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Antonio MoreiraCEO at Stefanini"We are proud of our ability to deliver exceptional value to our customers and to win new business competing with the largest outsourcing companies."
News Release
CXI Announces Acquisition by Global Outsourcer, Brazil-Based Stefanini IT Solutions
RICHMOND, Va. – February 28, 2011 – Ranjit Sen, Founder, Chairman and CEO of Code X Inc. (CXI), today announced that the acquisition of CXI by Brazil-based Stefanini IT Solutions Group has been finalized.
CXI will be a wholly-owned subsidiary of the privately-held Stefanini IT Solutions, the largest Brazilian native IT consulting company, with development centers across the Americas and around the world. Stefanini IT Solutions, which was founded in 1987 by Marco Stefanini, is recognized as a global leader in application outsourcing and software application development.
Stefanini and CXI have formed a strategic partnership that will allow both companies to more comprehensively serve their clients.
“Stefanini IT Solutions’ acquisition of CXI is another important step in our strategy to bring a new approach to outsourcing, offering the global presence and breadth of services of major providers with the responsive, personalized and localized customer-oriented focus that has been Stefanini’s reputation,” said Marco Stefanini. “With the CXI acquisition, Stefanini is able to offer its clients a broader portfolio of IT services, including CXI’s extensive experience developing, implementing and supporting SAP solution end to end. CXI strengthens Stefanini’s ability to offer the best “rightsourcing” option to our clients, adding a delivery center in India and more onshore US resources in application development, integration and consulting. Together with our recent acquisition of TechTeam, the addition of CXI positions Stefanini as a new breed of outsourcer and IT service provider.”
“I am pleased to announce the acquisition of CXI by Stefanini,” said Ranjit Sen. “When we started this process, we were looking for a company that shared a similar client-oriented culture and enable us to more effectively deliver valuable solutions. Stefanini is that company. Together, we will be able to provide an increased breadth and depth of services to our clients.”
The new partnership will combine strengths to focus on the mission shared across the entire Stefanini IT Solutions Group: to offer the best services possible to a growing base of global clients. This broad range of services includes IT & Business Consulting, Systems Integration Application Development and Outsourcing Services, BI, and ERP Solutions with SAP Platform.
As the companies integrate, Shu Dasgupta will remain President and COO of CXI, reporting to Antonio Moreira, CEO of Stefanini TechTeam. Mr. Sen will remain on the board of the company and act as executive senior advisor to Mr. Stefanini.
“We are really excited about what the future holds for everyone who has been part of CXI’s emergence and maturation over the past decade,” said Sen. “We are confident this move will enable us take the next step as we continue to provide effective business technology solutions.”
About Stefanini IT SolutionsSao Paulo-based Stefanini IT Solutions is the largest Brazilian native IT consulting company, with development centers across the Americas and around the world. In 2010, as part of continued global expansion, Stefanini IT Solutions acquired IT outsourcing provider TechTeam Global, a recognized global leader in IT outsourcing services including IT service desk, desktop management, security administration and infrastructure management. The combined company is a global provider of offshore, onshore and nearshore outsourcing, IT consulting, systems integration and application and strategic staffing services to Fortune 1000 enterprises around the world. The company has nearly 12,000 employees in 27 countries in the Americas, Europe, Africa and Asia, and more than 400 clients across a broad spectrum of markets, including financial services, manufacturing, telecommunications, chemical services, technology, public sector, and utilities.
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