Adding Solvimm strengthens e-Core’s cloud application and modernization capabilities for digital acceleration
Purchase is e-Core’s first M&A move. e-Core expects more acquisitions in coming years and growth above 30% in 2022
São Paulo, Brazil, March 30th, 2022 – e-Core is a technology consulting and development services provider helping high-growth and established companies innovate, scale, and transform. It is a global provider of solutions for new digital products and services creation, agile transformation, and cloud applications modernization. Today the company announced the acquisition of Solvimm, one of Brazil’s primary Cloud Computing consulting companies and an important partner of Amazon Web Services (AWS). Terms of the agreement were not disclosed.
This is e-Core’s first acquisition since it was founded in 1999. It marks a new strategy for the company. Connecting e-Core’s expertise in agile transformation and digital products development, with Solvimm’s cloud applications management capabilities, leads to digital acceleration for e-Core customers. “We created the necessary structures and learned a lot from this first transaction. We plan a sequence of acquisitions in coming years. In addition to increasing our portfolio with cloud management solutions, we expect a 33% growth this year, including Solvimm’s operations”, said Vinícius Pinheiro, e-Core co-founder and officer responsible for M&A.
Solvimm is one of the main partners of AWS in Brazil. It offers Cloud Computing and Data & Analytics services. Customers include Bodytech and Wilson Sons. It has eight years’ experience in the market and is based in Rio de Janeiro.
“There is a demand for the evolution of Cloud Computing to a higher level of maturity. Creating new applications, and modernizing existing ones to use all available resources, increases digital competitiveness,” said Márcio Silveira, e-Core co-founder, and CEO.
Synergy between e-Core and Solvimm addresses current demands of organizations for new digital products and services supporting the cloud environment. It enhances cloud design, conception, and digital strategy capabilities. Acquiring Solvimm represents an exponential increase in e-Core’s capacity to provide agile transformation to e-Core’s existing and future customers. For growing and digital native companies, we can better accelerate adoption of new technologies. This allows them to deliver technology solutions at a speed meeting marketing demands. For established companies we improve their competitive advantage by helping them respond to their customers’ needs more quickly and efficiently, Silveria explained.
Combined, the two companies will have 350 active customers and 750 employees by the end of 2022, including Solvimm’s more than 45 employees. In addition to operating throughout Brazil and maintaining offices in Porto Alegre, São Paulo, and now in Rio de Janeiro, e-Core also operates internationally with units in Mexico and the United States. “Our acquisition most immediately impacts e-Core’s Brazilian customers and will soon support our international customers,” said Silveria.
Solvimm’s team will have autonomy for execution and expansion in its area of operation. Filipe Barretto and Pedro Pisa, who founded Solvimm when they were engineering students at the Federal University of Rio de Janeiro (UFRJ), will lead expansion of cloud services to e-Core’s Brazilian customers.
“e-Core tripled its net revenue from 2018 to 2021, reaching R$ 238 million. We expect to exceed R$ 300 million in 2022, a growth of 33%”, said Silveira.
For more than 22 years, e-Core has been a trusted technology partner for customers around the globe, helping them to unlock the value of technology investments. Our mission is to support our partners; our purpose is to make their technology more effective. Leverage e-Core’s expertise to improve processes, expand your software team, or build custom solutions on your behalf. Let our experience be the core of our partnership with you. Transform your business, scale for growth, and continuously improve your competitive advantage.
Solvimm is a pioneer company specializing in cloud computing and Big Data solutions. The company is one of AWS’s main partners in Brazil and offers advisory services for cloud adoption, environment support, and application modernization for cloud environments.