Totvs Eyes Acquisitions as Brazil Software Market May Expand 10%

Totvs SA plans to buy specialist information technology companies to attract small and medium-sized clients as it bets Brazil’s software market will expand as much as 10 percent this year, according to Chief Executive Officer Laercio Cosentino.

“We want to be the best software-house option for foreign companies arriving in Brazil and also for Brazilian companies doing business outside the country,” Cosentino said in a Feb. 14 interview in Sao Paulo. “There is still a lot of space to grow.”