CI&T, a Brazilian provider of outsourced IT development services, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Backed by Advent International, CI&T believes it is differentiated by its value-add strategy, design and software engineering services. Its blue-chip customers include Johnson & Johnson, AB InBev, Nestlé, Google, Itaú Unibanco, Coca-Cola, LifeScan and Telefônica. The profitable company grew 36% in the first half of 2021 (+29% at constant currency).
The São Paulo, Brazil-based company was founded in 1995 and booked $223 million in sales for the 12 months ended June 30, 2021. It plans to list on the NYSE under the symbol CINT. CI&T filed confidentially on July 6, 2021. Goldman Sachs, Citi, J.P. Morgan, Morgan Stanley, Itau BBA, BofA Securities, and Bradesco BBI are the joint bookrunners on the deal. No pricing terms were disclosed.
