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The acquisition will help expand NowVertical's reach into South America
NowVertical, a company that specializes in vertical software and services for businesses, has announced it has closed on its acquisition of CoreBI. The company being acquired is focused on data science and analytics in Latin America.
The total acquisition will amount to nearly $8 million, including initial payments on closing, plus earn-out payments over the next four years.
Based in South America, CoreBI will bring its expertise in data analytics, big data, and data governance to NowVertical's focus on vertical software and services. CoreBI was founded in 2006, whereas NowVertical was founded in 2018.
Mauricio Pinto, co-founder of CoreBI, notes, "This is a great opportunity to take our data solution offerings to the next level."
The acquisition will give NowVertical the opportunity to expand its business in Latin America to provide additional solutions for new and existing businesses looking to improve their data and deployment pipelines.
The press release notes that "by offering transformational services across verticals, NOW Solutions provides the company with significant advantages over traditional software providers and other consolidators by streamlining integrations and leveraging cross-platform selling opportunities and synergies."
NowVertical provides customers with the network-specific tools and services needed to invest in the appropriate technologies to advance their various data implementations. This can be important for businesses, as mistakes or miscalculations can be a timely and costly process.
"Adding CoreBI and the experienced team in Latin America is another major milestone for NOW. We are excited by the opportunity to work with their people and clients in one of the fastest-growing big data and business analytics markets in the world," said Daren Trousdell, Chairman & CEO of NowVertical.
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