Atento S.A. (ATTO) Takes Majority Stake in R Brasil
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Atento S.A. (NYSE: ATTO) announced the acquisition of a controlling share of R Brasil Soluções (R Brasil), a top provider of collections services in Brazil. Financial terms of the transaction were not disclosed. The acquisition is expected to be accretive to Atento's profitability in its first year.
Founded in 2007, R Brasil has more than 20 blue-chip clients in its portfolio. The company is highly regarded for providing financial services, telecommunications and retail clients in Brazil with innovative and efficient collections solutions. A reference within the industry, R Brasil's collections platform provides fast integration with client systems and delivers revenue recovery effectiveness through business intelligence and analytics.
According to Alejandro Reynal, Atento's Chief Executive Officer, "This acquisition accelerates Atento´s penetration into higher value-add solutions while further strengthening our leadership position in Latin America." Mr. Reynal added, "As part of our long-term strategy, we continue to lead in core voice services; diversify into higher-value add solutions, especially with financial services clients; and accelerate growth in digital services. The acquisition of R Brasil advances the execution of our strategy."
"The joint capabilities of Atento and R Brasil Soluções will make us the largest provider of collections solutions in Brazil," said Mario Camara, Atento Brazil Managing Director. "We will offer a superior end-to end revenue recovery solution to our clients and their end consumers to settle past due situations while enhancing their relationships. We are excited about the new opportunities we can now bring to our clients".
Flavio Luiz Rossetto, Managing Director of R Brasil, called the acquisition agreement with Atento, "A major milestone" for his company. "Our corporate vision of generating value by providing excellent collections solutions aligns well with Atento´s mission to make companies successful by guaranteeing the best customer experience for their end consumers," said Mr. Rossetto. Following the acquisition, founders of R Brasil, Flavio Luiz Rossetto and Jorge Lourencao will remain in their leadership roles as the company initiates this new phase within Atento.
The combination of Atento & R Brasil's capabilities:
- Provides clients with a fully integrated platform, delivering customized collections solutions.
- Enhances the effectiveness of collections solutions with the extensive use of technology, business intelligence and analytics capabilities.
- Creates the largest provider of collections services in Brazil with more than 7,000 professionals with strong collections know-how and expertise.
- Significantly expands Atento´s addressable market by servicing the USD $2.7 billion market for collections in Latin America.
- Drives consolidation in this highly fragmented and compelling market in Latin America.
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