**Editor's Note: Please click here for a recap of the biggest M&A in Q4 2012 in the service-provider and BSS/OSS spaces.**
Global consulting and IT services provider Mahindra Satyam has announced the acquisition of a majority stake in Complex IT, a SAP consulting provider in Brazil.
"This combination of Complex IT and Mahindra Satyam strengthens our commitment to the Brazilian market, which is one of the fastest growing enterprise solutions markets. We look forward to expanding our market presence and offer global delivery capabilities to our customers," said Arvind Malhotra, global head of Latin America & Strategic Accounts at Mahindra Satyam.
The two companies will go to market with proprietary solutions for large manufacturing, financial and consumer services companies. This initiative marks another important milestone in offering Mahindra Satyam's customers a global delivery capability in Latin America, the India-based company said.
"The BRICS countries have the potential to achieve a leadership position in the global economy and we believe that Mahindra Satyam and Complex IT will contribute significantly to this strategic vision. The relationship with Mahindra Satyam will mean enhanced career opportunities for our team, and increased quality of services to our customers and partners," said Antonio Rossi, CEO of Complex IT.
Financial terms of the deal were not disclosed.