Monday, July 7, 2014
OpenGate Capital Buys Latin American System Integrators
Los Angeles-based private equity investor OpenGate Capital reported Monday that it has acquired two, Latin American information technology system integrators. OpenGate Capital said it acquired the shares of Damovo Mexico SA de CV and Damovo Do Brasil SA, from parent the Damovo Group. Financial details of the buy were not disclosed. Both businesses provide Internet Protocol (IP) and Unified Communications (UC) systems integration services across Latin America. OpenGate Capital said the acquisition will help complement two of its existing, private equity portfolio companies--Getronics and Sopho. Damovo's Mexican and Brazilian operations generated more than $100M in revenues, according to OpenGate Capital, with over 400 employees serving 1,180 contracts.