Brazil -- Bull is expected to invest at least $3.5 million on its joint venture with Ingenico to boost its market penetration in Brazil -- particularly with smart cards.
According to a report by Gazeta Mercantil, Bull will focus on developing smart cards and will also forge new alliances and acquisitions with other IT companies in Brazil. The French manufacturer of ATMs and smart cards recently acquired 50 percent of the IT firm Algar.
Over the next five years between 20 million and 25 million smart cards will be issued in Brazil, predicts Bull.
In 1998, Bull merged its payment terminal activities with Ingenico. The company's recent announcement reflects its effort to boost its presence in Latin America through its alliance with companies already located there.
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