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Brazil's Itautec announces 64% jump in net income
October 9, 2007
SAO PAULO, Brazil - Itautec says it has increased its customer portfolio, a direct result of its growth internationally. Itautec's net income increased 64 percent during the second quarter 2007, and the company now says it expects to open a subsidiary in Italy.
Simón Ruben Schvartzman, Itautec's international director of operations, said the Italian subsidiary will provide services to the retail ATM networks operating in the country; after that, Itautec plans to go after the banking market. Itautec has been operating in other countries, including Portugal and Spain for a number of years. In Mexico, Itautec competes in the banking-automation segment.
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