Sonda Rallies to Record on View Acquisitions to Boost RevenueEduardo Thomson
Sonda SA, Chile’s largest information technology company and software developer, rose to a record on speculation acquisitions will further boost revenue.
Sonda gained 1.5 percent to 1,610 pesos today in Santiago, its highest level since it began trading in 2006. The Ipsa index retreated 0.5 percent.
The stock has rallied on the company’s plans to invest $700 million through 2015, Claudia Cavada, an analyst at BICE Inversiones in Santiago, said in a phone interview. Of that amount, 71 percent will be used to fund acquisitions, according to a presentation posted this month on Sonda’s website.
“The new investment plan is more aggressive,” Cavada said. “Sonda has a record of obtaining synergies from its acquisitions.”
The company invested $439 million between 2010 and 2012, according to the presentation.
Sonda has completed 11 acquisitions in Latin America since its listing in 2006, according to data compiled by Bloomberg. The company’s revenue has increased to $1.23 billion in 2011 from $352 million in 2006.