Totvs announced the purchase of 60% of the share capital of the company Neolog, software developer for the Logistics and Supply Chain Management market, for R$ 15.547 million, reinforcing its segmentation strategy.
Headquartered in São Paulo, the company has been in the market for over 10 years providing route management solutions and logistics network. The new specialized acquisition complements Totvs' portfolio aimed at customers from the most diverse segments with the need to optimize their logistical resources.
Based on the SaaS (Software as a Service) model, Neolog serves large customers such as Gerdau, Amanco, Whirpool, Magazine Luiza and Votorantim Cimentos. Together with other companies, Neolog has a freight portfolio of more than R$ 3 billion per year. Its structure has more than 50 employees and, in 2014, recorded net revenue of R$ 9.1 million.
“With this movement, Totvs reinforces its strategy of specialization and its positioning in serving the entire supply chain. We combine Neolog's products and expertise with the strength of our capillarity. Together, we will explore opportunities for cost optimization and efficiency gains in a key sector for the Brazilian economy ”, highlights Gilsinei Hansen, vice president of Segments and Systems at Totvs.
The contract also provides for the payment of a variable amount, which must be disbursed in accordance with the fulfillment of certain goals established for Neolog by June 30, 2016. In addition, the future purchase by TOTVS of the equity interest is foreseen. remainder of Neolog, which may be executed between January 2018 and the same month of 2020, for a value based on Neolog's performance metrics.
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