09/08/2008 11h15
BRQ wins US$ 16 million auction
Gazeta Mercantil - 09/08/2008
BRQ, a Brazilian company of corporate on-demand software, won a public tender for a service agreement with the Banco do Nordeste do Brasil Bank (BNB) in the amount of R$ 26.5 million (US$ 16.3 million). For the execution of the project the São Paulo Company opens operations in the Northeast, in Fortaleza (CE), with an office and a qualification center for the training of professionals in the area, and which should also become the basis for software exportation to Europe. At a first moment, there will be the hiring of nearly 130 professionals and one executive will begin the prospection of clients in Spain, aiming to generate demand for the Northeast operation. Until October, offices in Salvador and Recife will also be opened. The expectation with that operation is to reach sales of US$ 30 million in three years. BRQ currently employs 2 thousand people, based on the offices in São Paulo, Rio de Janeiro, Curitiba, Brasilia, and New York - last year it acquired American ThinkInternational, after receiving R$ 56 million (US$ 29 million) from BNDESPar and BNDES. The BNB public tender comprises five contracts, which include a software plant, to meet the demand for development of new software projects, and the maintenance and support of the existing systems. All contracts are valid for two years and can be extended for up to five years, taking the value to R$ 36 million (US$ 22.1 million). For the execution of new tasks other public tenders would be necessary. "BNB is the greatest IT investor of the Notheast", affirms its president Benjamin Quadros. Recently, the company has also won the Banco do Brasil public tender, which will bring the company's cash R$ 8 million (US$ 4.91 million) and will expand its business in Brasilia. With the two new contracts, it guarantees an important income in order to reach the sales goal for the next two years. Having had revenues of nearly R$ 150 million (US$ 77.7 million) in 2007, the company intends to keep the growth average of the last years, around 20% to 35%, to get to R$ 200 million (US$ 122.7 million) still this year, says the executive. BRQ will also look for expansion by the purchase of companies. According to Quadros, there is the expectation to conclude two acquisitions until the end of the year and one of them is advanced. For the next year, the executive says that he will evaluate a "second round" of fund raising, which might come from several sources, such as BNDES again or from investment funds, for example.
