Capgemini has bought a 55 per cent stake in Brazilian reseller CPM Braxis for £194m.

Braxis has 5,500 staff and expects to turn over £375m in 2010. It specialises in financial clients, and until the buyout its largest customer, the bank Bradesco, was also its largest shareholder.

Capgemini said the deal would extend its reach in Brazil, allow it to support its existing clients with interests in the country and to add to its management team.

CPM Braxis expects revenue growth of 20 per cent this year and manages margins of around six per cent.

Capgemini will have the option to buy up the rest of Braxis's shares between three and five years after the deal closes.

The deal makes Brazil Capgemini's sixth largest country by headcount with 6,200 staff.

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