In a recent press release, CSC announced the completion of its acquisition of BearingPoint’s operation in Brazil.  Specializing in consulting and systems integration services, BearingPoint’s Brazilian business unit employs 550 people in offices in Brasilia, Rio de Janeiro and Sao Paulo. With this acquisition, CSC expands their horizontal capabilities and vertical industry expertise in its Chemical, Energy and Natural Resource sectors.  BearingPoint Brazil’s clients include some of the world's largest producers of oil, gas and iron ore.  This acquisition of BearingPoint Brazil is yet another for the company after declaring bankruptcy in February (significant portions have been sold to Deloitte and PwC; more recently Keane said it had reached an agreement to acquire portions of BearingPoint's North American public services unit).
In addition to looking to Brazil’s domestic market for continued growth, CSC also adds to their global delivery model with this acquisition.  CSC Chairman, President and CEO Michael W. Laphen said: "We will establish a meaningful foothold in one of the world's largest emerging markets, add capabilities that extend and complement our own and position CSC for increased success both internationally and domestically."  Brazil is highly attractive as an alternative offshore geography, as well as a local market as the world’s ninth largest economy.  Although some barriers exist, such as language barriers and security issues in large cities, Brazil is rich in local IT culture and systems and has a large base of mainframe skills.  Additionally, Brazil is an appealing offshore location because of its time zone shift from the US and its highly educated and young population.  CSC joins vendors such as IBM, EDS, Accenture and TCS who have already established themselves in the Brazil offshore/export market.