BlueCielo Exercises Option to Up Stake in Brazilian Subsidiary

BlueCielo increases stake in BlueCielo do Brasil from 51 to 99 percent.

Rijswijk – BlueCielo ECM Solution announced today that it has acquired a further 48 percent of its Brazilian subsidiary BlueCielo do Brasil Soluções de Gerenciamento Ltda, bringing its total stake in the subsidiary to 99 percent.

BlueCielo first acquired 49 percent of its Santo André-based reseller PONTODOC in December 2008, which was BlueCielo’s first move towards forming a strong, operational infrastructure in Brazil and the rest of Latin America, where it has a broad customer base including key players in the energy, oil and gas, and discrete and process manufacturing industries. After the acquisition, PONTODOC was renamed BlueCielo do Brasil Soluções de Gerenciamento Ltda.

Subsequently the assets of BlueCielo’s largest Brazilian reseller GAMA and the BlueCielo-related activities of distributor SKA were acquired and incorporated into BlueCielo do Brasil. Another two percent in BlueCielo do Brasil were secured in March 2009.

With this latest move BlueCielo now has the organizational and corporate infrastructure in place to further accelerate the growth of the business in Brazil and the rest of Latin America – key markets which BlueCielo has identified as having significant growth potential.

BlueCielo’s customers in the region include the world’s biggest alumina producer Alunorte, Brazil’s largest mining company Companhia Vale do Rio Doce, the Americas’ largest long steel producer Gerdau Ameristeel, major Brazilian oil producer Petrobras, well-known tyre manufacturer Pirelli and many more.