Vela LatAm, the Latin American unit of Constellation Software Inc., announced the acquisition of Axoft, the Argentine company behind Tango Software. The deal marks Vela LatAm's entry into the Argentine market, according to the source.
Axoft was founded in 1988 and employs more than 300 people, the source states. The company keeps its brand, team and management, according to the source.
The purchase price was not disclosed in the sources.
The announcement was reported alongside a separate agreement by Vela LatAm to buy Brazilian managed IT provider Penso Tecnologia, which the source says is pending regulatory approval. The source describes Axoft as a software company and Penso Tecnologia as an IT services firm, and says both keep their brand, team and management.