According to research done by Bain & Company, private funds are investing up to 20% of the value of selected IT companies. One example is the Intel Capital Fund, which has invested in three Brazilian IT companies this year: Yavox, Certising, Digitron.

Funds are looking into several IT companies in Brazil, though Bain concludes that investment in Brazil is still much lower than in other countries. Funds are also looking for return within specific time frames - and may divest at any time, from five to seven years after initial investment.

According to research done by KPMG, there have been 258 mergers and acquisitions in the IT sector in Brazil since 1994, with the highest number in 2000, when the Internet boom went bust.