NEW YORK and BOSTON, July 29, 2019 – CI&T, a leader in driving digital transformation for global brands, today announced that Advent International (“Advent”), one of the largest and most experienced global private equity investors, has agreed to make a strategic minority investment in CI&T. The funding will be used to further accelerate the company’s rapid growth in North America, Europe and the Asia-Pacific region. CI&T’s founding entrepreneurs remain majority shareholders of the business. Terms of the transaction were not disclosed.

CI&T is a digital technology solutions partner for some of the world’s largest companies. Since 1995, it has helped Fortune 1000 companies thrive in a world of ever-accelerating technological change. CI&T provides strategy, research, design and engineering services, digitally transforming customers’ businesses by co-creating new business models, digital products and platforms, and innovative ways of working.

“This investment will enable us to scale our global growth, continue to fuel innovation, expand our services and ultimately, invest in our client relationships with new solutions and partnerships,” said Bruno Guicardi, Co-founder and President, CI&T. “Advent’s deep expertise across the financial services, healthcare, retail, and technology sectors complements CI&T’s strengths and creates opportunities to develop new business in key markets around the world.”

“CI&T is the leading digital transformation player in Brazil, with a burgeoning international business,” said Patrice Etlin, a Managing Partner at Advent International. “We see significant opportunities for further geographic expansion and are excited to partner with CI&T’s talented management team to support the company’s growth in North America and other regions where Advent has a strong presence and domain knowledge.”

This new strategic and financial partnership will enable CI&T to accelerate its global growth strategy, which is focused on increasing market share and brand awareness, attracting new talent, strengthening capabilities and expanding geographically. Advent—with its deep sector expertise, global platform and operational resources—will help the company build on its strong momentum and drive further growth in North America, which currently accounts for 45% of CI&T’s total revenue.

CI&T’s 2018 financial results showed continued global growth. The company ended the year with global revenue increasing 26% year-over-year and North American revenue increasing 62% year-over-year. With 2,500 strategists, designers and engineers in North America, Latin America, Europe, and the Asia-Pacific region, CI&T has the scale to meet the needs of Fortune 1000 clients, with the agility to achieve the speed to market today’s customers demand.

Advent International has significant investment experience in both the technology sector and the key markets in which CI&T operates. Over the past 28 years, Advent has invested $3.5 billion in 26 technology companies worldwide.

As part of this transaction, BNDESPAR, the equity division of BNDES, the Brazilian development bank, will be exiting its investment in CI&T. BNDES has been a CI&T partner since 2005, and the main objective of its investment has been to support the company’s international expansion.

“The investment in CI&T has reached maturity in the BNDESPAR portfolio, taking into account that the investment thesis presented in 2005 has been fulfilled,” said Márcio Spata, Superintendent of the BNDES Participation Management Area. “We consider CI&T a great success case, due to the increased relevance of the company in its market in recent years, its evolution in the internationalization agenda and in terms of corporate governance, and the benefits resulting from its growth, such as the creation of jobs.”

The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2019.