Summary of Proposed Investment
Project Number
11411
Company Name
Qualitá, Inc.
Date SPI Disclosed
Mar 29, 2002
Country
Mexico
Industry
Telecommunications and Technology
Projected Board Date
Apr 29, 2002
Status
Completed
Sector
Content (B2C Companies)
Department
WBG Digital and AI
Environmental Category
C - No Impact
Previous Events
Approved : Jun 28, 2002
Signed : Jun 28, 2002
Invested : Jul 25, 2002
Project Description
Qualita is a large Mexican IT company founded in 1983 by Antonio Fajer, who grew the business to its current size of over US$100 million in sales. The company focuses on the large and medium size Mexican corporate market, and its clients include some of the largest companies and government agencies in the country.
The project consists of financing: i) Qualita’s expansion in the Solutions space; ii) improvement of the company’s internal information systems; iii) construction of two new support centers; and iv) working capital needs.
The project will have significant developmental impact by potentially creating hundreds of IT related jobs in Mexico. Qualita will also contribute to the training of skilled technology workers in Mexico by exposing them to international best practices. Qualita can also contribute to improving the efficiency of business and government institutions in Mexico through providing state-of-the-art technology and services. In a rapidly changing technology environment, Qualita can use its expertise to help large and medium sized Mexican companies and government agencies unfamiliar with technological solutions increase their technology utilization, in turn supporting economic growth and development.
An IFC investment would support a local technology company that has successfully grown to become a leading IT company in Mexico, professionally managed, and with strong corporate governance procedures. The economic turndown and the decline of appetite for technology investments by private equity investors have made it extremely difficult for companies such as Qualita to raise capital. In addition to providing capital, IFC would also be playing an important role in attracting other investors. In addition, IFC will be able to bring its global knowledge of IT services to help Qualita in its growth strategy. IFC could also provide assistance to the company on setting up a more proactive approach to the company’s foreign exchange risk management.
The project consists of financing: i) Qualita’s expansion in the Solutions space; ii) improvement of the company’s internal information systems; iii) construction of two new support centers; and iv) working capital needs.
The project will have significant developmental impact by potentially creating hundreds of IT related jobs in Mexico. Qualita will also contribute to the training of skilled technology workers in Mexico by exposing them to international best practices. Qualita can also contribute to improving the efficiency of business and government institutions in Mexico through providing state-of-the-art technology and services. In a rapidly changing technology environment, Qualita can use its expertise to help large and medium sized Mexican companies and government agencies unfamiliar with technological solutions increase their technology utilization, in turn supporting economic growth and development.
An IFC investment would support a local technology company that has successfully grown to become a leading IT company in Mexico, professionally managed, and with strong corporate governance procedures. The economic turndown and the decline of appetite for technology investments by private equity investors have made it extremely difficult for companies such as Qualita to raise capital. In addition to providing capital, IFC would also be playing an important role in attracting other investors. In addition, IFC will be able to bring its global knowledge of IT services to help Qualita in its growth strategy. IFC could also provide assistance to the company on setting up a more proactive approach to the company’s foreign exchange risk management.
Sponsor / Cost / Location
Development Impact
Related ESRS/ERS
Contacts
For Inquiries About the Project, Contact
John Milner
Qulaita
Culiacan No. 123 esq. bajio
Col. Hipodromo, 06100 Mexico D.F.
Qulaita
Culiacan No. 123 esq. bajio
Col. Hipodromo, 06100 Mexico D.F.