Connect33 Newsletter | August 2025

HTEC's M&A deal in Guatemala, OpenAI's Brazil expansion, and our latest Scaling Engineering Teams interview with LatAm industry veteran Daniel Lopatin.

Hi readers, welcome to our August edition, covering Latin American technology trends, expansion, and mergers and acquisitions.

In this edition, we explore HTEC's M&A deal in Guatemala, OpenAI's Brazil expansion, and sit down with LatAm industry veteran Daniel Lopatin to discuss his scaling journey as well as his experience being on both sides of the M&A table. If you enjoy this newsletter, please share it with your colleagues. Vámonos!

• Scaling Engineering Teams in LATAM: Our latest interview features Daniel Lopatin, co-founder and former CEO of United Virtualities, one of the largest e-commerce suppliers out of Latin America before its acquisition by Argano. Daniel shares insights on his unique entrepreneurial journey from building a digital agency in China 20 years ago to scaling a 170-person enterprise technology consultancy, plus candid advice on M&A processes, the "buy and build" strategy for LatAm expansion, and his mentorship approach for the next generation of Latin American entrepreneurs.

It's hard to buy scale in Latin America. It's difficult. There are just simply not that many large companies in Latin America. So I always say it's not buy versus build, it’s more of buy and build to me, right? It's like buying the right LatAm partner and building. If you find a smaller partner and they're really good and they can help you–buy them and build through them that's what I always advise to do.

• Our take: Daniel's rare dual perspective—having both sold his company and now evaluating acquisitions—provides valuable insights into the realities of LatAm tech services M&A, from valuation gaps to integration challenges that most founders never discuss publicly. Read the full interview.

1 big thing: HTEC acquires Cognits

• HTEC, a global technology consulting and software development company, expanded into Latin America through the acquisition of Cognits, a Guatemala-based technology solutions provider specializing in digital transformation. (HTEC)

  • Why it matters: Often overlooked, this acquisition establishes Guatemala as a hub for emerging tech talent. In speaking with Cognits’ founder, he emphasized the deal’s significance for the country’s tech ecosystem, as he believes it will attract additional investment and partnerships.

  • What to watch: Given that Cognits is seen as the seed for HTEC’s expansion across Latin America, HTEC’s future M&A moves across the region will be worth watching closely.

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• OpenAI, the leading AI research company, announced its first office in Brazil, located in São Paulo, to host AI training and community events. (CNBC)

• Nvidia (NASDAQ: NVDA) outlined plans for a strategic expansion into Latin America, identifying Mexico and Brazil as future hubs for AI infrastructure development. (Mexico Business)

• BRQ, a Brazilian digital transformation and technology consulting company, acquired Weme to accelerate generative AI-driven innovation and enhance its artificial intelligence capabilities for enterprise clients. (Nearshore Americas)

• Visma, a leading Nordic provider of business software across Europe and Latin America, entered Brazil with the acquisition of Conta Azul, a leading cloud ERP provider for SMBs. (Visma)

• Tata Consultancy Services (NYSE: TCS), a global leader in IT services, consulting, and business solutions, launched a new AI-enhanced operations center in Mexico City. (TCS)

• TietoEVRY Create, a Nordic digital engineering and technology services company, opened an Argentina office to strengthen its global delivery capabilities. (TietoEVRY)

• Starian, a Brazilian technology services company, secured over $115 million in investment from General Atlantic to accelerate growth and expand its technology solutions across emerging markets. (General Atlantic)

• Ubits, a Colombian corporate learning and development platform, acquired ValuHR, an HR technology company, to strengthen its workforce development solutions across Latin America. (Crunchbase)

• Incode, a global identity verification and authentication platform, acquired AuthenticID to enhance its AI-powered identity solutions and strengthen its position in the market. (Incode)

• Vesta Software Group, a specialized software investment firm, acquired Geocom, expanding its portfolio of vertical market software companies with a focus on Latin American operations. (Vesta Software Group)

• Payroc, a global payment processing and technology company, completed the acquisition of Agilisa Technologies, headquartered in Santo Domingo, DR, to enhance its payment solutions and expand capabilities in emerging markets. (PR Newswire)

• NielsenIQ, a global consumer intelligence company, acquired MTRIX, a Latin American market research and analytics firm, to strengthen its data capabilities and market insights across the region. (NielsenIQ)

• Olist, a Brazilian e-commerce enablement platform, acquired Flip, a Brazilian fintech company, to integrate financial services into its marketplace ecosystem for small and medium enterprises. (Latam Republic)

• Symetri, a global provider of design and engineering software solutions, accelerated its global growth with the acquisition of FF Solutions in Brazil. (Symetri)

• Zendesk (NYSE: ZEN), a US-based customer service software company, has increased its investments in Latin America to capitalize on momentum in AI agents and expand its customer experience platform across the region. (BNAmericas)

• Foxconn, the Taiwanese electronics manufacturing giant, announced significant investments in Mexico to expand its manufacturing capabilities and strengthen its presence in the North American supply chain. (Mexico News Daily)

• Odata, a leading data center and digital infrastructure provider, launched its fourth hyperscale data center in Mexico to support growing cloud computing and digital transformation demands across Latin America. (Odata)

Connect33 is a consulting firm specializing in helping US companies build, buy, and partner with Latin America’s top software development teams. Our list of companies we’ve scaled with includes mid-to-large enterprises, including Atrium, Bain & Company, Braze, EPAM, phdata, Tekton, and more.

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Additional stories we’re following

• Argentina M&A Market surged in H1 2025 (Bloomberg Linea)

• BTG Pactual agrees to buy HSBC's Uruguay operation (Reuters)

• Databricks to buy Sequoia-backed Tecton in AI agent push (Reuters)

• PwC US announces agreement to acquire Kunai (PWC)

• Latam-GPT: Meet the Open Source AI of Latin America (Wired)

• A Chinese E-Commerce Glut Is Meeting Resistance in Latin America (Bloomberg)

LatAm-focused roles at top tech companies.

• Confluent is hiring an Enterprise Account Executive LATAM

• Harvey is hiring a Mid Market Customer Success Manager, LATAM

• Datadog is hiring a Commercial Account Executive - LATAM

• Intercom is hiring a Senior Relationship Manager, Mid-Market (LATAM)

• Supermetrics is hiring an Account Executive - Latam

• Aircall is hiring a Strategic Ecosystem Lead NA & LATAM

• Dataiku is hiring an Enterprise Account Executive, LATAM (Brazil)

• Sprout Social is hiring a Channel Account Manager (LATAM)

• Okta is hiring a Regional Sales Manager, Brazil

• Zendesk is hiring a Manager, LATAM Renewals

• Staffbase is hiring a Corporate Sales Development Representative - LATAM

• CrowdStrike is hiring a Sales Development Representative - LATAM