Brazilian software firm Totvs has boosted its cloud capabilities with the acquisition of software-as-a-service (SaaS) company Virtual Age for an undisclosed sum.
Virtual Age is based in the southern state of Paraná and is focused on the provision of platforms for the textile and clothing sectors, with niche systems that cover the entire supply chain process of textile and clothes production all the way to the retail stage.
The company's SaaS offering represents about 81 per cent of Virtual Age's revenue, which is expected to hit R$29m ($13m) in 2014. Virtual Age is also considered innovative for being one of the first Brazilian vendors to be able to integrate RFID functionality to ERP systems.
Virtual Age's buyer, Totvs, is the Brazilian equivalent of SAP and has surpassed the German software giant in Brazil within the small and medium enterprise market for ERP systems.
Totvs has been either acquiring or funding companies that can add value to its business such as big data analytics and cloud applications firm Good Data, which has received a $22m series D funding from the Brazilian company last year.