Deal boosts Brazilian share of group’s global revenue to 40% from 26% and strengthens its position in Latin America’s technology market.
Italian company Almaviva, which operates in digital services and customer relationship management, has acquired 100% of Brazilian technology firm Tivit. The transaction value was not disclosed and is still subject to approval by Brazil’s antitrust regulator, CADE.
Once approved, the deal will strengthen Almaviva’s position in Brazil’s tech services market and raise the country’s share of its global revenue from 26% in 2024 to 40% this year, CEO Marco Tripi told Valor.
“For us, the Brazilian market is highly attractive, with incredible growth potential, and at the same time, it serves as a gateway to Latin America,”
Mr. Tripi said.
According to the executive, Almaviva has invested roughly R$5 billion in acquisitions since late 2023, including the offer for Tivit. In April 2024, the company acquired a 51% stake in Magna Sistemas for R$340 million, and in October, it spent $335 million (R$1.86 billion) to acquire U.S.-based Iteris. At the end of 2023, the group also acquired three European firms: Italy’s B.M. Tecnologie Industriali and 2f Water Venture, and Spain’s Mabrian Technologies.
Mr. Tripi noted that Tivit offers strong synergies with Almaviva Solutions, which was established through the Magna acquisition. Tivit enhances the group’s technology offering, particularly in financial services and cybersecurity, and expands its presence in Latin America. Almaviva currently operates in Brazil and Colombia, with a presence in Argentina, Mexico, Chile, and Paraguay as well.
In 2024, Tivit reported net revenue of R$ 1.97 billion, up 9.4% from the previous year. In 2023, it posted R$1.8 billion in revenue and held net debt of R$509.7 million.
Founded in 2006, Tivit came under the control of British private equity firm Apax Partners in 2010, in a deal valued at R$874 million at the time. Apax currently holds 94% of the company, while minority shareholder and cofounder Luis Mattar owns 5%. The remaining 1% is distributed among 65 managers.
Almaviva noted that the acquisition does not include Tivit’s data center operations. In 2023, Tivit spun off its data center business into a separate entity, Takoda, which remains under Apax Partners’ control with a 90% stake.
Focusing increasingly on tech services, Almaviva has been downsizing its customer service and collections operations. Across Brazil and Colombia, the company employs 27,289 people, with the vast majority (26,169) working in customer support and collections—a workforce 15.6% smaller compared to June 2024.
The Tivit acquisition brings Brazil’s contribution to Almaviva’s global revenue close to 40% this year. In 2024, Italy accounted for 58% of the group’s €1.41 billion (R$9.04 billion) in global revenue, Brazil for 26% (R$2.3 billion), and the United States and other countries for 16%. For 2025, the group projects €1.9 billion (R$12.18 billion) in revenue, with 48% from Italy, 40% from Brazil (R$4.87 billion), and 12% from other markets.
Source: Valor International
