Connect33 Newsletter | November 2024
3-minute read
Hi readers, welcome to our November edition covering Latin American technology trends, expansion, and M&A. During the month, we continued to see a steady pace of expansions and M&A, with Cloud and Data center investments at the forefront and a surging fintech market.
In Connect33 news, we are excited to share news of our latest partnership in Brazil and the developments with our devshop marketplace. More details below. ¡Vámonos!
GenAI Brazil Report: The 2024 ISG report for Brazil finds that GenAI has become a core part of application services, pushing Agile methodology into the background. Organizations in Brazil are willing to invest in new technologies for higher quality and efficiency, the report says. They are using GenAI to help IT departments deliver better applications and business functions in less time without increasing budgets. While it adds new tasks and may not cut the total cost of development, GenAI is already delivering gains in productivity.
“Companies in Brazil are constantly working to reduce time to market on the applications they create,” said Shafqat Azim. “They are beginning to recognize GenAI’s potential to help them deliver better code more quickly.”
Our take: Since covering Github’s AI in Software Development survey in our August edition, this topic has continued to be the main topic of conversation across software engineering. Based on Github’s findings, engineers are saving the most time with AI on collaboration and system design; however, as ISG notes, it’s important to remember that GenAI does not replace humans in defining what software does for users or how it is created, including program flow, logic, architecture, and business rules.
Our latest discussions with our network of software partners in Latin America align with these findings, although some industries are adopting GenAI much more rapidly than others. We are encouraged by Brazil’s adoption and look forward to additional reporting across other Latin American markets.
Microsoft (NASDAQ:MSFT) and Kyndryl (NYSE:KD), partnered with Banco de Credito in Peru to modernize BCP’s IT systems with hybrid cloud and help Peruvians gain greater access to digital banking services. (PRN)
PointB, a business innovation and technology consulting firm, announced the acquisition of Lumston, a Mexico-based software development firm that specializes in app development and digital transformation. (Newswire)
Technology Holdings, a global boutique investment bank with a track record of closing transactions in 24 countries, announced its strategic expansion into Brazil. (BusinessWire)
Optimum, an Irvine-based software solutions company, announced its expansion into Latin America, enhancing its network development solution for automotive, power sports, and equipment sectors. (PRWeb)
ADP, a leading provider of global human capital management solutions, announced its acquisition of Payroll SA, an HCM with operations in Chile, Argentina, and Peru. (PRN)
Nubosoft, a Mexican Google Cloud Partner, plans to expand further into Latin America and become Google’s highest revenue partner in the region. (BNAmericas)
Cloudflare (NYSE: NET), the leading connectivity cloud company, announced its continued growth in the Mexico market following a year of investment and expansion. (BusinessWire)
Megaport, the Australia-based Network as a Service (NaaS) provider, announced its official expansion into Brazil (BusinessWire)
Totvs, the largest technology company in Brazil, is once again evaluating the acquisition of software management firm Linx, after losing a heated bidding war for it in 2020. (Valor)
Forgepoint Capital, a leading cybersecurity, AI, and infrastructure software venture capital firm, announced its strategic expansion into Europe, Latin America, and Israel. (Bloomberg)
Vela Software, a leading provider of software services based in Toronto, Canada, acquired Facil. (Vela)
Talavera Solutions, announced its launch with a dual mission: transforming how organizations build and scale their CRM Centers of Excellence while creating unprecedented growth opportunities for Latin American technology professionals. (Business Wire)
Connect33 announced a partnership with Braze (NASDAQ: BRZE), the New York-based customer engagement platform, to support the company in their Brazil expansion.
Last week, we welcomed our 20th software partner into the LatAm Partners network. We are excited to see what began as a single dev shop partnership in 2019 evolve into a network of Latin America's top software development firms. Read the full story here and reach out if you’d like to learn more on how we’re matching US companies with top software development partners.
Additional stories we’re following
BlackRock To Bolster Mexico Staff in Latin America Expansion (Bloomberg)
Brazil: The Next Frontier For AI Data Centers (Forbes)
Latin America fintech will be a market to watch in 2025 (TechCrunch)
The Tech Ecosystem Powering Latin America’s Growth (Fast Company)
Nubank reaches 100 million customers in Brazil (Nubank)
Ualá reaches $2.75 Billion Valuation (Bloomberg)
Job Board
LatAm-focused roles at top tech companies.
Roblox is hiring a Director of Communications
Mintel is hiring an Account Manager
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Udemy is hiring a Sales and Customer Success Enablement
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