Caixa Enters IT Deal

Brazil’s Caixa Participacoes (CaixaPar) has agreed to acquire a 22% stake in Brazilian IT services company CPM BraxisCapgemini from controller Capgemini, it says. The deal also makes CPM a preferred IT supplier to the Caixa Economica Federal bank for 10 years. CaixaPar is acquiring the stake through the simultaneous purchase of shares from existing shareholders and subscription to a BRL121m ($60m) capital increase, for a total investment of BRL321m. It will become the second-largest shareholder in CPM after France-based Capgemini, which will hold 58.8%. The transaction is subject to regulatory and Central Bank approval, and is expected to close in the coming months. CPM already boasts a relationship with Bradsco that makes it one of the larger IT providers to Brazil’s financial sector.