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TOTVS Acquires RM Sistemas

TOTVS S.A., a leader in the development and trading of integrated corporate management software and rendering related services in the small and medium business segment in Brazil and in Latin America, announced the acquisition of RM Sistemas S.A.

TOTVS and RM have become the largest business software company in Latin America, with unaudited pro-forma gross revenues and EBITDA of $345 million and more than $52 million, respectively, in 2005. Together they have more than 14,500 clients.

As a result of the merger, both firms will continue to have operational independence with their own products and brands, but will profit from synergies related to technological development, alliances and management. TOTVS has gained even more strength and is even more determined to offer nothing but the very best service to its clients.

The transaction was valued up to $206 million, with a portion tied to 2006 performance.

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