Claranet in new IPO in Brazil?

Claranet Portugal, the IT company which has the largest business turnover in its sector in Portugal, is preparing a round of possible acquisitions for 2024 and may include an IPO in Brazil.

This is according to its CEO António Miguel Ferreira who in an interview with the business title Negócios that the company was discussing a potential acquisition which would probably only be secured next year.
The return to acquisitions comes after a period in which Claranet has been integrating the seven companies that it has already acquired over the past decade, including ITEN and OutScope Solutions.
António Miguel Ferreira said that from now on new acquisitions would be “more surgical”. “We want to buy companies that complement our portfolio of services”, he said.
Claranet helps companies to modernise in terms of technology and transformation while protecting them from security threats.
Its services include Cybersecurity, Networks and Communications and Cloud Services. It was founded in 1996, has annual revenues of around €550 million, 10,000 business customers and employs 3,000 staff worldwide.
Past acquisitions have enabled Claranet to gain ground in Portugal where it has a market share of 7%.
“We are an IT company which has the largest business turnover (in our sector) in Portugal”, he said, adding that for the last tax year ending July 30, the company turned over €220 million in the Portuguese market, an amount that compares to the €210 million the year before.
“Portugal represents around 30% of the group’s turnover and although it is the smallest economy out of the 11 countries in which it operates, it enjoys the largest business turnover”, he added.
The CEO says the company is highly committed to Portugal and recently invested around €6 million in a new office that is in the Hub Creativo do Beato in Lisbon, a place with a number of technology startups.
In 2021 Claranet Portugal launched an IPO in Brazil which failed that September. Claranet now says it is reconsidering floating on the Brazilian stock market next year. “This is something that we’re open to and we’ll be reconsidering in 2024”, said António Miguel Ferreira who in addition to being the CEO of Claranet Portugal, is also responsible for the group’s Iberian and Brazilian markets.