Coasin Group provides IT services to companies in the mining, finance, services, and retail industries in Chile. Nearshore Americas reports that Logicalis, a British IT firm owned by Datatec, has recently announced that it will acquired Coasin Group for just over US$20M.
Logicalis will reportedly pay US$19.1M at the close of the deal, while disbursing the final US$1.1M based on year-long profit target set for the firm. This acquisition is part of a regional strategy for expansion of Logicalis’ services in Latin America, although the firm has already been present in Chile for 10 years. Coasin Group operates currently from Santiago and Peru.
The acquisition is thought to be a strategic move by Logicalis to reach Coasin’s mining customers, to help Logicalis better serve its own customers worldwide. Currently, Logicalis receives turnover around US$1.5B annually with operations in Africa, Asia, Europe, and the Americas.
This story was originally reported in Nearshore Americas.