Itelligence AG completes acquisition of FH S.A. in Brazil

Global SAP leading Itelligence AG announced today that it completed the acquisition of FH S.A. Brazil, owner of the local market leading tax solution ‘Guepardo’. “With revenue of R$ 168 million (37 million Euro) in 2019, an increase of 25% over the 2018 result, FH enters 2020 with an optimistic outlook on the market and plans to achieve R$ 200 million (44 million Euro)”, Ricardo Fachin, CEO of FH says in the press release. Brazil is the eighth largest IT market globally. It grew by 9.8% in 2018 and market analysts expect an above global average growth rate until 2024.

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Source: Yahoo Finance