Product details

Senior Solution, a Sao Paulo-based IT company specializing in software development and solutions for financial institutions, was founded in 1996 by Bernardo Gomes and Luciano Camargo. In the late 1990s, the company focused on customized IT projects and maintenance. Its business grew from BRL0.2 million to BRL7 million in 2002. By 2004, there was increasing consolidation in the banking sector in Brazil, with several mergers taking place, posing both challenges and opportunities for companies like Senior Solution. The sector was highly fragmented with more than 150 providers, none of which held more than 5% of the market. In late 2004, Senior Solution closed its first merger with NetAge, a slightly smaller competitor specializing in treasury solutions. In 2005, after a strong growth period, the company announced changes in its shareholder base when Stratus, a private equity investment company focusing on Brazil’s mid-tier market, bought shares to the value of BRL 2.5 million, 20% of Senior Solution's capital. A rigorous M&A strategy followed with further acquisitions in 2006, 2007 and 2010.