TOTVS: Difference between revisions
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{{Short description|Brazilian software company}} |
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{{refimprove|date=June 2018}} |
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{{more citations needed|date=June 2018}} |
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{{Infobox company |
{{Infobox company |
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| name = TOTVS |
| name = TOTVS |
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| logo = TOTVS pos.jpg |
| logo = TOTVS pos.jpg |
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| type = [[Public company|Public]] |
| type = [[Public company|Public]] |
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| traded_as = {{ |
| traded_as = {{B3 (stock exchange)|cvm=19992|TOTS3}} |
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| industry = [[Software]] |
| industry = [[Software]] |
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| foundation = 1983 |
| foundation = 1983 |
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| location_country = [[Brazil]] |
| location_country = [[Brazil]] |
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| key_people = Dennis Herszkowicz ([[CEO]]) |
| key_people = Dennis Herszkowicz ([[CEO]]) |
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| num_employees = |
| num_employees = +10,000 |
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| products = [[ERP software]] |
| products = [[ERP software]] |
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| services = |
| services = |
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| revenue = {{increase}} R$ |
| revenue = {{increase}} R$ 3.2 billion <small>(2021)</small> |
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| operating_income = |
| operating_income = |
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| net_income = {{increase}} R$ 1.772 billion <small>(2014)</small> |
| net_income = {{increase}} R$ 1.772 billion <small>(2014)</small> |
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| assets = |
| assets = |
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| equity = |
| equity = |
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| owner = |
| owner = |
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| parent = |
| parent = |
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| divisions = |
| divisions = |
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| homepage = {{URL|http://en.totvs.com/|totvs.com|}} |
| homepage = {{URL|http://en.totvs.com/|totvs.com|}} |
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}} |
}} |
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'''TOTVS S.A.''' is a [[Brazil]]ian [[software company]] based in [[São Paulo]]. TOTVS was initially formed from the merger of [[Microsiga]] and Logocenter. TOTVS is the leader in the Brazilian [[Enterprise resource planning|ERP]] market according to the [[Fundação Getúlio Vargas|FGV]] (Getúlio Vargas Foundation) and, in addition to Brazil, has offices in the [[United States]], [[Portugal]] and [[Latin America]].<ref>{{cite web|url=http://computerworld.com.br/tecnologia/2014/04/24/totvs-mantem-se-na-lideranca-do-mercado-brasileiro-de-erp-diz-fgv |title=Totvs mantém-se na liderança do mercado brasileiro de ERP, diz FGV. |last=ComputerWorld |language=pt |accessdate=March 3, 2018}}</ref><ref>{{cite web |url=http://forbesbrasil.br.msn.com/negocios/como-la%C3%A9rcio-cosentino-transformou-a-totvs-em-uma-das-maiores-empresas-de-ti-do-brasil?page=2 |title=Como Laércio Cosentino transformou a Totvs em uma das maiores empresas de TI do Brasil |last=Forbes Brazil |language=pt |accessdate=March 3, 2018 |archive-url=https://web.archive.org/web/20140912225752/http://forbesbrasil.br.msn.com/negocios/como-la%C3%A9rcio-cosentino-transformou-a-totvs-em-uma-das-maiores-empresas-de-ti-do-brasil?page=2 |archive-date=September 12, 2014 |url-status=dead }}</ref> |
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'''TOTVS S.A.''' is a [[Brazil|Brazilian]] [[software company]] headquartered in [[São Paulo]]. It has 70,000 clients of diverse sizes operating in 12 sectors of the Brazilian economy: Agribusiness, Logistics, Manufacturing, Distribution, Retail, Services, Education, Hospitality, Legal, Construction, Health and Financial Services. According to FGV, TOTVS is the market leader in management software in Brazil. |
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The company has invested R$2 billion in R&D over the last five years to meet its clients’ demands. TOTVS has over 50% market share in Brazil, and is among the top 3 players in [[Latin America]], having clients in over 40 countries. With approximately 10,000 TOTVERS (as its employees are called internally) in its units and franchises, the company was Brazil’s 25th most valuable brand in 2020, as per the ranking announced by Interbrand. In Brazil, it has 15 branches, 52 franchises and 10 development centers. In the international market, it has two units in [[Argentina]], a technological development center and a commercial unit in [[Mexico]], one innovation laboratory in the U.S., and one unit each in [[Colombia]] and [[Chile]]. |
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== History == |
== History == |
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[[File:Virtual-hi.png|thumb|right |
[[File:Virtual-hi.png|thumb|right|260px|Virtual Age, subsidiary of TOTVS.]] |
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In 1983, entrepreneur Laércio Cosentino was 23 years old and was director of data processing company '''Siga''', a company created by Ernesto Haberkorn. Cosentino and Haberkorn opened [[Microsiga]], a software company for small and medium-sized companies, and then became equal partners in the new company. Microsiga merged with Siga in 1989, and in 2005 the company changed its name to TOTVS.<ref>{{cite web|url=https://www.istoedinheiro.com.br/noticias/mercado-digital/20090902/mestre-das-fusoes/11504|title= O mestre das fusões.|last=Editora Três |work=IstoÉ Dinheiro |language=pt|accessdate=July 3, 2020}}</ref> |
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In the 1980s, microcomputing was becoming popular and gaining market share. Laércio Cosentino, who was 23 at the time and worked as a director at Siga, recognized the potential reach of personal computers (PC) and saw an opportunity to create a new company that would develop software for microcomputers used in companies. He proposes, over lunch, a partnership with his boss Ernesto Haberkorn, owner of Siga. Microsiga was thus born in September 1983.{{Citation needed|date=February 2023}} |
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TOTVS acquired more than 50 corporative software manufacturers like Datasul, RM Sistemas, Midbyte, Logocenter, BCS, among others. TOTVS opened a [[California]] operation within the [[University of California]] campus, '''TOTVS Labs''', a [[cloud computing]] solutions research center, in 2011<ref>{{cite web|url=http://www1.folha.uol.com.br/fsp/mercado/69940-totvs-abre-centro-no-vale-do-silicio-para-criar-tecnologia-de-ponta.shtml |title=Totvs abre centro no Vale do Silício para criar tecnologia de ponta. |last=Folha de S.Paulo |language=pt|accessdate=March 3, 2018}}</ref>. The following year, it opened an office in [[Silicon Valley]], California. TOTVS acquired seven Brazilian software companies in 2013; PRX (current [[TOTVS Agroindústria]]), ZeroPaper, RMS, 72% of Ciashop, Seventeen Tecnologia da Informação, W & D Participações, parent company of PC Sistemas and PC Informática, and the American company GoodData. |
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Each partner held 50% interest in the new company and it was agree that Laércio would manage the company, which will provide integrated enterprise management solutions affordable to small and midsized companies already using microcomputers.{{Citation needed|date=February 2023}} |
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In May of 2014, bought by 75.1 million dollars, the [[Paraná (state)|Paraná]]-based company Virtual Age that works in the development of software in the cloud for the companies of textile fashion and clothing. On August 14, 2015 Totvs announced the purchase of 100% of the commercial automation company [[Bematech]] for [[Brazilian real|R$]] 550 million.<ref>[http://convergenciadigital.uol.com.br/cgi/cgilua.exe/sys/start.htm?infoid=40363&sid=5 convergenciadigital.uol.com.br]. Retrieved March 3, 2018.</ref> |
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In 1989, Microsiga launched an audacious expansion plan through its pioneering (in the technology segment) system of franchises. The project was named ‘Treaty of Tordesillas’ and the first four franchises were inaugurated in four Brazilian cities: [[Rio de Janeiro]], Belo Horizonte, Recife and Porto Alegre.{{Citation needed|date=February 2023}} |
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== Offices == |
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TOTVS has 66 units and 11 centres of [[Research and Development|R&D]] in Brazil - [[São Paulo]], [[Rio de Janeiro]], [[Brasília]], [[Belo Horizonte]], [[Salvador, Bahia|Salvador]], [[Recife]], [[Fortaleza]], [[Manaus]], [[Porto Alegre]], [[Joinville]] and [[Curitiba]] -, 3 centres of [[Research and Development|R&D]] in the [[United States]] - [[Weston, Florida]], [[Raleigh, North Carolina]] and [[Mountain View, California]] (TOTVS Labs) - 4 units with 1 [[Research and Development|R&D]] center in [[Latin America]] - [[Argentina]], [[Bolivia]], [[Chile]], [[Colombia]], [[Dominican Republic]], [[Ecuador]], [[Mexico]], [[Paraguay]], [[Peru]] and [[Uruguay]] - as well as an office in [[Portugal]] and [[New York City|New York]]. |
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In 1992, Microsiga shifted its head office from the district of Perdizes to Avenida Braz Leme in the North Zone of São Paulo. It also kicked off the integration of the company into the surrounding community through actions aimed at preserving public areas in the region. In 1994, Microsiga Software S.A. became the first Brazilian software company to obtain the ISO 9001 certification and a certificate for the quality of the Life Cycle process of software developed by it. |
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The year 1995''',''' was marked by the launch of Advanced Protheus 5 (AP 5), the ERP software that succeeded Siga Advanced. In 1997, the company started its international expansion by opening a branch office in Argentina. Continuing the expansion project, the newly opened branch office in Argentina helped open new franchises in Chile, [[Paraguay]] and [[Uruguay]] between 1997, and 2003.{{Citation needed|date=February 2023}} |
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In 1998, the Protheus system was officially launched. Currently, the Protheus Line ERP is the market leader, thanks to its high customization capacity and its ability to meet the needs of companies in diverse sectors. The same year, the company established the Instituto de Oportunidade Social (IOS),<ref>{{Cite web |title=Instituto de Oportunidade Social |url=https://ios.org.br/}}</ref> which provides free professional training and employment support to youth and people with disabilities.{{Citation needed|date=February 2023}} |
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The year 1999, was marked by the entry of private equity – Advent International Corporation, a U.S.-based investment fund, acquired 25% of Microsiga’s share capital. The same year, the company officially launched ADVPL, its proprietary language designed to make systems development more flexible. |
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In 2003, Microsiga acquired the assets of Sipros, a Mexican company specializing in the development and sale of computerized payroll and human resources solutions. |
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In 2005, Microsiga took on a new look, rebranding itself as TOTVS. |
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In 2006, TOTVS held its Initial Public Offering (IPO), becoming first IT company in Latin America to go public, with its shares listed on B3’s Novo Mercado segment. Consequently, TOTVS consolidates its position by acquiring software competitors such as RM Sistemas and Datasul. |
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In 2009, Universo TOTVS is born. It is the company’s principal event to showcase the trends and innovations in its systems and applications to clients. |
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2010 was marked by TOTVS’ entry into the U.S. market through a partnership with Stanford University. At that time, the company’s market value reached US$1 billion, making it the 1st Brazilian Unicorn, at a time when the term was little known. |
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In 2012, TOTVS Labs was inaugurated in Mountain Ville in the Silicon Valley in California. In 2013, TOTVS acquired five companies: Ciashop, PRX, RMS, Seventeen and PC Sistemas. |
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Another significant event at the time was the acquisition, through TOTVS Venture, of non-controlling interest in GoodData Corp., a company in California that provides business intelligence solutions in the cloud based on big data technology, which stores and manages huge databases. |
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The same year, TOTVS launched TOTVS Fluig, a productivity platform. |
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In 2015, 60% of Neolog’s capital was merged with TOTVS. |
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In 2017, TOTVS moves its head office for the second time. The new building, also on Avenida Braz Leme, spans 65,000 m<sup>2</sup> and can receive up to 3,000 people. It also brought together TOTVS employees working at diverse units across São Paulo. |
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In 2018, Laércio Cosentino rolls out the succession process, handing over the role of CEO to Dennis Herszkowicz<ref>{{Cite web |title=Laércio Cosentino rolls out the succession process, handing over the role of CEO to Dennis Herszkowicz |date=26 November 2018 |url=https://itforum.com.br/noticias/totvs-anuncia-dennis-herszkowicz-como-diretor-presidente/}}</ref> and becomes the chairman of the company’s board of directors. |
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In 2019, TOTVS’ innovation lab in the US moves to Raleigh, North Carolina. That year, TOTVS also announced its joint venture with Vtex,<ref>{{Cite web |title=TOTVS announced its joint venture with Vtex |date=10 May 2019 |url=https://tiinside.com.br/10/05/2019/totvs-e-vtex-anunciam-joint-venture/}}</ref> which will enable the digital commerce platform to be contracted through TOTVS’ commercial structure. |
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Also during the period, TOTVS announced the creation of TOTVS Techfin, its financial services unit that offers its clients credit products and B2B payments. |
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The year 2021 was marked by several milestones for the company, such as the publication of its ESG policy, as well as honors, such as the Exame Award – Best of ESG in Technology,<ref>{{Cite web |title=The Exame Award – Best of ESG in Technology |date=13 May 2021 |url=https://exame.com/revista-exame/as-melhores-do-esg/}}</ref> and Best Technology Company at the InfoMoney Melhores na Bolsa Awards.<ref>{{Cite web |title=Best Technology Company at the InfoMoney Melhores na Bolsa Awards |date=8 June 2021 |url=https://www.infomoney.com.br/mercados/as-melhores-empresas-da-bolsa-conheca-as-premiadas-no-ranking-infomoney-de-2021/}}</ref> |
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The company also launched a communication campaign, consisting of several videos focused on the brand, exclusively for digital channels, the first being ‘Mistério desvendado! É tudo!’ and a video narrating its history, ‘Bando de inconformados.’ |
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Also in 2021, TOTVS announced the creation of Dimensa, its joint venture with B3. |
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Other important announcements during the year include: |
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* The creation of CVC Fund for investments in startups;<ref>{{Cite web |title=The creation of CVC Fund for investments in startups |date=11 November 2021 |url=https://startups.com.br/noticias/totvs-investira-r-300-mi-em-startups-por-meio-de-fundo-cvc/}}</ref> |
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* A follow-on offering that raised R$1.44 billion<ref>{{Cite web |title=Follow-on offering that raised R$1.44 billion |date=22 September 2021 |url=https://www.digitalmoneyinforme.com.br/totvs-capta-r-144-bi-em-follow-on/}}</ref> from the issue of 39.27 million new common shares; |
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* The celebration of 15 years of its IPO on B3. |
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In 2022, TOTVS announced a joint venture with Itaú Unibanco,<ref>{{Cite web |title=TOTVS announced a joint venture with Itaú Unibanco |date=12 April 2022 |url=https://valorinveste.globo.com/mercados/renda-variavel/empresas/noticia/2022/04/12/itau-e-totvs-formam-joint-venture-para-oferta-de-servicos-financeiros-integrados.ghtml}}</ref> consolidating TOTVS Techfin’s focus on the distribution of financial services integrated into TOTVS management systems based on data intelligence, targeted at corporate clients and their entire chain of suppliers, clients and employees. The new company’s mission is to expand, simplify and democratize access to personalized financial services fully that are integrated to management systems (ERP). |
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== Acquisitions == |
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TOTVS has so far carried out more than 40 acquisitions. |
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Following is a timeline of key acquisitions: |
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Between '''2004''' and '''2005''', TOTVS acquired 100% of the capital stock of Sipros. Currently, in addition to the branch office, TOTVS has a Research & Development Center in Mexico, in the city of Querétaro. In '''2005''', the company also acquired Logocenter and, in 2006, announced the acquisition of RM Sistemas for approximately R$165 million. |
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In '''2008''', the company formalized the merger of TOTVS and Datasul, a company in Joinville, Santa Catarina, with 30 years of experience in the market and which, at the time, was TOTVS’ main domestic competitor in the software supply segment. Between '''2009''' and '''2011''', TOTVS acquired Total Banco, a supplier of solutions for the core business of banks. |
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In '''2011''', the company opened TOTVS Labs, a research center for cloud computing, inside the campus of the University of California in San Diego, California. The next year, it opened an office in Silicon Valley, California. |
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In '''2013''', TOTVS acquired seven Brazilian software companies: PRX, ZeroPaper, RMS, 72% of Ciashop, Seventeen Tecnologia da Informação, W&D Participações, the parent company of PC Sistemas and PC Informática, and the U.S.-based GoodData. |
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'''In May 2014''', it acquired Virtual Age, a company in Paraná that develops cloud-based software for textile fashion and apparel companies, for R$75.1 million, |
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'''On August 14, 2015''', TOTVS announced the acquisition of 100% of Bematech, a commercial automation company, for R$550 million. '''In May 2019''', the company sold Bematech's hardware arm for R$25 million to Elgin. Also in '''2019''', the company acquired Supplier to reinforce Techfin’s credit portfolio. |
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'''On April 8, 2020''', it acquired Wealth Systems,<ref>{{Cite web |title=TOTVS acquired Wealth Systems |date=8 April 2020 |url=https://forbes.com.br/negocios/2020/04/totvs-compra-wealth-systems-por-r-27-milhoes/}}</ref> a company in the interior region of Paraná that develops CRM and cloud-based salesforce software, for R$27 million. Also in 2020, it acquired Consinco for R$252 million. |
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'''On December 21, 2020''', the company announced the acquisition of Tail Target<ref>{{Cite web |title=TOTVS announced the acquisition of Tail Target |url=https://www.baguete.com.br/noticias/21/12/2020/totvs-compra-tail-target}}</ref> for R$12 million. '''On March 9, 2021''', TOTVS announced the acquisition of RD Station, a marketing automation company, for R$1.86 billion. It acquired around 92% of the capital stock of the company located in Santa Catarina. |
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The year '''2022''', was marked by the acquisition of Feedz for R$66 million,<ref>{{Cite web |title=Acquisition of Feedz for R$66 million |date=September 2022 |url=https://valorinveste.globo.com/mercados/renda-variavel/empresas/noticia/2022/09/01/totvs-anuncia-aquisicao-da-empresa-de-software-feedz-por-r-66-milhoes.ghtml}}</ref> as a way to expand its operations in human experience management. |
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== The 3 Business Dimensions of TOTVS == |
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Recently, TOTVS started to focus on 3 business dimensions - Management, Techfin and Business Performance. |
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In the '''Management''' '''dimension''' are systems such as ERP, HR platforms and vertical solutions for companies in diverse economic sectors (focus on core business). The '''Techfin''' '''dimension''' comprises financial services offered through technology, such as B2B credit, prepayment of receivables, payments via Pix, credit cards or digital wallets. The '''Business Performance''' '''dimension''' comprises marketing automation, data intelligence, CRM and other platforms. |
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== International Market == |
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In [[Argentina]], two units are located in [[Buenos Aires]], one of them responsible for the commercial operations of Latin America’s South Hub, and the other dedicated specifically to the hospitality sector. In [[Mexico]], TOTVS has a technology development center in [[Querétaro]] and a commercial operation unit of the Latin America North Hub in [[Mexico City]]. |
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The unit in [[Colombia]] is located in [[Bogotá]], which is responsible for the commercial operations of the Latin America Andean Hub. The Company’s unit in [[Chile]] is located in [[Santiago]], which markets products for the hospitality sector. |
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In the [[United States]], TOTVS’ innovation laboratory TOTVS Labs is located in [[Raleigh, North Carolina|Raleigh]], [[North Carolina]]. |
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== References == |
== References == |
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{{reflist|2}} |
{{reflist|2}} |
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== External links == |
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* {{URL|en.totvs.com|Official Website}} in [[English language|English]] |
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* {{URL|http://www.totvslabs.com|TOTVS Labs}} in [[English language|English]] |
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* {{URL|www.facebook.com/totvs|Facebook}} in [[Portuguese language|Portuguese]] |
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[[Category:Companies listed on B3 (stock exchange)]] |
[[Category:Companies listed on B3 (stock exchange)]] |
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[[Category:Multinational companies headquartered in Brazil]] |
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[[Category:Technology companies of Brazil]] |
[[Category:Technology companies of Brazil]] |
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[[Category:Companies based in São Paulo]] |
[[Category:Companies based in São Paulo]] |
Latest revision as of 20:10, 12 April 2024
This article needs additional citations for verification. (June 2018) |
![]() | |
Company type | Public |
---|---|
B3: TOTS3 | |
Industry | Software |
Founded | 1983 |
Founder | Laércio Cosentino and Ernesto Haberkorn |
Headquarters | , |
Key people | Dennis Herszkowicz (CEO) |
Products | ERP software |
Revenue | ![]() |
![]() | |
Number of employees | +10,000 |
Subsidiaries | Bematech Virtual Age PRX PC Sistemas |
Website | totvs.com |
TOTVS S.A. is a Brazilian software company headquartered in São Paulo. It has 70,000 clients of diverse sizes operating in 12 sectors of the Brazilian economy: Agribusiness, Logistics, Manufacturing, Distribution, Retail, Services, Education, Hospitality, Legal, Construction, Health and Financial Services. According to FGV, TOTVS is the market leader in management software in Brazil.
The company has invested R$2 billion in R&D over the last five years to meet its clients’ demands. TOTVS has over 50% market share in Brazil, and is among the top 3 players in Latin America, having clients in over 40 countries. With approximately 10,000 TOTVERS (as its employees are called internally) in its units and franchises, the company was Brazil’s 25th most valuable brand in 2020, as per the ranking announced by Interbrand. In Brazil, it has 15 branches, 52 franchises and 10 development centers. In the international market, it has two units in Argentina, a technological development center and a commercial unit in Mexico, one innovation laboratory in the U.S., and one unit each in Colombia and Chile.
History
[edit]![](http://upload.wikimedia.org/wikipedia/commons/thumb/4/49/Virtual-hi.png/260px-Virtual-hi.png)
In the 1980s, microcomputing was becoming popular and gaining market share. Laércio Cosentino, who was 23 at the time and worked as a director at Siga, recognized the potential reach of personal computers (PC) and saw an opportunity to create a new company that would develop software for microcomputers used in companies. He proposes, over lunch, a partnership with his boss Ernesto Haberkorn, owner of Siga. Microsiga was thus born in September 1983.[citation needed]
Each partner held 50% interest in the new company and it was agree that Laércio would manage the company, which will provide integrated enterprise management solutions affordable to small and midsized companies already using microcomputers.[citation needed]
In 1989, Microsiga launched an audacious expansion plan through its pioneering (in the technology segment) system of franchises. The project was named ‘Treaty of Tordesillas’ and the first four franchises were inaugurated in four Brazilian cities: Rio de Janeiro, Belo Horizonte, Recife and Porto Alegre.[citation needed]
In 1992, Microsiga shifted its head office from the district of Perdizes to Avenida Braz Leme in the North Zone of São Paulo. It also kicked off the integration of the company into the surrounding community through actions aimed at preserving public areas in the region. In 1994, Microsiga Software S.A. became the first Brazilian software company to obtain the ISO 9001 certification and a certificate for the quality of the Life Cycle process of software developed by it.
The year 1995, was marked by the launch of Advanced Protheus 5 (AP 5), the ERP software that succeeded Siga Advanced. In 1997, the company started its international expansion by opening a branch office in Argentina. Continuing the expansion project, the newly opened branch office in Argentina helped open new franchises in Chile, Paraguay and Uruguay between 1997, and 2003.[citation needed]
In 1998, the Protheus system was officially launched. Currently, the Protheus Line ERP is the market leader, thanks to its high customization capacity and its ability to meet the needs of companies in diverse sectors. The same year, the company established the Instituto de Oportunidade Social (IOS),[1] which provides free professional training and employment support to youth and people with disabilities.[citation needed]
The year 1999, was marked by the entry of private equity – Advent International Corporation, a U.S.-based investment fund, acquired 25% of Microsiga’s share capital. The same year, the company officially launched ADVPL, its proprietary language designed to make systems development more flexible.
In 2003, Microsiga acquired the assets of Sipros, a Mexican company specializing in the development and sale of computerized payroll and human resources solutions.
In 2005, Microsiga took on a new look, rebranding itself as TOTVS.
In 2006, TOTVS held its Initial Public Offering (IPO), becoming first IT company in Latin America to go public, with its shares listed on B3’s Novo Mercado segment. Consequently, TOTVS consolidates its position by acquiring software competitors such as RM Sistemas and Datasul.
In 2009, Universo TOTVS is born. It is the company’s principal event to showcase the trends and innovations in its systems and applications to clients.
2010 was marked by TOTVS’ entry into the U.S. market through a partnership with Stanford University. At that time, the company’s market value reached US$1 billion, making it the 1st Brazilian Unicorn, at a time when the term was little known.
In 2012, TOTVS Labs was inaugurated in Mountain Ville in the Silicon Valley in California. In 2013, TOTVS acquired five companies: Ciashop, PRX, RMS, Seventeen and PC Sistemas.
Another significant event at the time was the acquisition, through TOTVS Venture, of non-controlling interest in GoodData Corp., a company in California that provides business intelligence solutions in the cloud based on big data technology, which stores and manages huge databases.
The same year, TOTVS launched TOTVS Fluig, a productivity platform.
In 2015, 60% of Neolog’s capital was merged with TOTVS.
In 2017, TOTVS moves its head office for the second time. The new building, also on Avenida Braz Leme, spans 65,000 m2 and can receive up to 3,000 people. It also brought together TOTVS employees working at diverse units across São Paulo.
In 2018, Laércio Cosentino rolls out the succession process, handing over the role of CEO to Dennis Herszkowicz[2] and becomes the chairman of the company’s board of directors.
In 2019, TOTVS’ innovation lab in the US moves to Raleigh, North Carolina. That year, TOTVS also announced its joint venture with Vtex,[3] which will enable the digital commerce platform to be contracted through TOTVS’ commercial structure.
Also during the period, TOTVS announced the creation of TOTVS Techfin, its financial services unit that offers its clients credit products and B2B payments.
The year 2021 was marked by several milestones for the company, such as the publication of its ESG policy, as well as honors, such as the Exame Award – Best of ESG in Technology,[4] and Best Technology Company at the InfoMoney Melhores na Bolsa Awards.[5]
The company also launched a communication campaign, consisting of several videos focused on the brand, exclusively for digital channels, the first being ‘Mistério desvendado! É tudo!’ and a video narrating its history, ‘Bando de inconformados.’
Also in 2021, TOTVS announced the creation of Dimensa, its joint venture with B3.
Other important announcements during the year include:
- The creation of CVC Fund for investments in startups;[6]
- A follow-on offering that raised R$1.44 billion[7] from the issue of 39.27 million new common shares;
- The celebration of 15 years of its IPO on B3.
In 2022, TOTVS announced a joint venture with Itaú Unibanco,[8] consolidating TOTVS Techfin’s focus on the distribution of financial services integrated into TOTVS management systems based on data intelligence, targeted at corporate clients and their entire chain of suppliers, clients and employees. The new company’s mission is to expand, simplify and democratize access to personalized financial services fully that are integrated to management systems (ERP).
Acquisitions
[edit]TOTVS has so far carried out more than 40 acquisitions.
Following is a timeline of key acquisitions:
Between 2004 and 2005, TOTVS acquired 100% of the capital stock of Sipros. Currently, in addition to the branch office, TOTVS has a Research & Development Center in Mexico, in the city of Querétaro. In 2005, the company also acquired Logocenter and, in 2006, announced the acquisition of RM Sistemas for approximately R$165 million.
In 2008, the company formalized the merger of TOTVS and Datasul, a company in Joinville, Santa Catarina, with 30 years of experience in the market and which, at the time, was TOTVS’ main domestic competitor in the software supply segment. Between 2009 and 2011, TOTVS acquired Total Banco, a supplier of solutions for the core business of banks.
In 2011, the company opened TOTVS Labs, a research center for cloud computing, inside the campus of the University of California in San Diego, California. The next year, it opened an office in Silicon Valley, California.
In 2013, TOTVS acquired seven Brazilian software companies: PRX, ZeroPaper, RMS, 72% of Ciashop, Seventeen Tecnologia da Informação, W&D Participações, the parent company of PC Sistemas and PC Informática, and the U.S.-based GoodData.
In May 2014, it acquired Virtual Age, a company in Paraná that develops cloud-based software for textile fashion and apparel companies, for R$75.1 million,
On August 14, 2015, TOTVS announced the acquisition of 100% of Bematech, a commercial automation company, for R$550 million. In May 2019, the company sold Bematech's hardware arm for R$25 million to Elgin. Also in 2019, the company acquired Supplier to reinforce Techfin’s credit portfolio.
On April 8, 2020, it acquired Wealth Systems,[9] a company in the interior region of Paraná that develops CRM and cloud-based salesforce software, for R$27 million. Also in 2020, it acquired Consinco for R$252 million.
On December 21, 2020, the company announced the acquisition of Tail Target[10] for R$12 million. On March 9, 2021, TOTVS announced the acquisition of RD Station, a marketing automation company, for R$1.86 billion. It acquired around 92% of the capital stock of the company located in Santa Catarina.
The year 2022, was marked by the acquisition of Feedz for R$66 million,[11] as a way to expand its operations in human experience management.
The 3 Business Dimensions of TOTVS
[edit]Recently, TOTVS started to focus on 3 business dimensions - Management, Techfin and Business Performance.
In the Management dimension are systems such as ERP, HR platforms and vertical solutions for companies in diverse economic sectors (focus on core business). The Techfin dimension comprises financial services offered through technology, such as B2B credit, prepayment of receivables, payments via Pix, credit cards or digital wallets. The Business Performance dimension comprises marketing automation, data intelligence, CRM and other platforms.
International Market
[edit]In Argentina, two units are located in Buenos Aires, one of them responsible for the commercial operations of Latin America’s South Hub, and the other dedicated specifically to the hospitality sector. In Mexico, TOTVS has a technology development center in Querétaro and a commercial operation unit of the Latin America North Hub in Mexico City.
The unit in Colombia is located in Bogotá, which is responsible for the commercial operations of the Latin America Andean Hub. The Company’s unit in Chile is located in Santiago, which markets products for the hospitality sector.
In the United States, TOTVS’ innovation laboratory TOTVS Labs is located in Raleigh, North Carolina.
References
[edit]- ^ "Instituto de Oportunidade Social".
- ^ "Laércio Cosentino rolls out the succession process, handing over the role of CEO to Dennis Herszkowicz". 26 November 2018.
- ^ "TOTVS announced its joint venture with Vtex". 10 May 2019.
- ^ "The Exame Award – Best of ESG in Technology". 13 May 2021.
- ^ "Best Technology Company at the InfoMoney Melhores na Bolsa Awards". 8 June 2021.
- ^ "The creation of CVC Fund for investments in startups". 11 November 2021.
- ^ "Follow-on offering that raised R$1.44 billion". 22 September 2021.
- ^ "TOTVS announced a joint venture with Itaú Unibanco". 12 April 2022.
- ^ "TOTVS acquired Wealth Systems". 8 April 2020.
- ^ "TOTVS announced the acquisition of Tail Target".
- ^ "Acquisition of Feedz for R$66 million". September 2022.