Brazilian e-commerce platform Infracommerce acquires Synapcom for $224 million

According to foreign media reports, Brazilian e-commerce platform Infracommerce acquired its competitor Synapcom for 1.2 billion reais (about US$224 million).

The company will pay 773 million reais ($144.89 million) in cash and approximately 27 million new Infracommerce shares to complete the acquisition .

Infracommerce said Synapcom has an estimated annual recurring revenue of 275 million reais and has more than 60 customers including Samsung and Phillips. With the acquisition of Synapcom, its annualized recurring revenue will climb to 710 million reais, about three times the total revenue reported in 2020.

Infracommerce said in a securities filing on Sept. 26 that the deal represents the end of its strategic plan to use proceeds from its initial public offering ( IPO ) completed in April , which raised about 2 billion reais.

In the second half of this year, Infracommerce made frequent moves: in July , the company acquired Argentina 's Summa Solutions for US$9 million ; in August, Infracommerce acquired another Brazilian competitor , Tatix, for 124 million reais.

“We continue to execute on our strategy to expand our ecosystem and solidify our leadership in the CXaaS ( Customer Experience as a Service ) business model,” said Kai Schoppen, CEO of Infracommerce.

Investment bank Itaú BBA considers the transaction transformative, with multiple synergies and the addition of new features and high-quality customers to Infracommerce.

Itaú BBA analysts noted: "We believe the acquisition of Synapcom is transformative for Infracommerce for the following reasons: it is a solid integration move; Infracommerce is the leader in B2B full commerce platforms and Synapcom is the leader in B2C (thus, it not only gives Infracommerce scale in B2C but also strengthens its positioning in the niche); Synapcom offers complementary solutions (such as accelerated marketplaces and loyalty programs) in addition to a solid customer portfolio . "

In addition to logistics operators, Infracommerce also competes with e-commerce solution developers such as Vtex, which went public on the New York Stock Exchange in July and raised $361 million.

Infracommerce claims to be the largest independent e-commerce digital ecosystem in Latin America. In addition to Brazil, Infracommerce also has operations in Mexico, Colombia, Chile and Argentina, with a total of 1,500 employees.

Brazilian e-commerce

Infracommerce

Acquisition