VTeX purchase electronic trade platform Xtech

SAO PAULO (Reuters)-the brazilian Vtex, who works with Cloud Commerce technology for e-commerce, bought the Xtech Commerce, e-commerce platform for small and medium-sized enterprises (SMEs), by 14 million reais, Vtex reported on Friday.
With the acquisition, the Vtex intends to consolidate the domestic market and projects expansions of operations for small and medium-sized enterprises in Latin America, United States and Europe.
The controller also Integrated Store, e-commerce platform for small businesses, the Vtex serves companies like Walmart and Sony in about 27 countries.
With the merger between Xtech and the Integrated Store, Vtex is about of active stores geared toward 26000 PEMs, Transact about of 1 billion Reals annually.
"The main countries that let's focus initially are Latin America Mexico, Colombia and Argentina-and Eastern Europe-Poland, Romania and Czech Republic", told Reuters the co-Chief Executive of Vtex for Europe and Asia, Mariano Gomide. The Executive also said that expansion plans are being structured to begin in 2018.
Founded three years ago, Xtech has 45000 stores that should earn around of 200 million this year, up 200% over the past year.