Welcome to our first edition of 2025, covering Latin American technology trends, expansion, and M&A. This month, Salesforce, Slalom, and Coinbase made big announcements, highlighting a busy first month of the year.
In Connect33 news, we’re excited to welcome a new advisor to our team, whom we previously featured in our Scaling Engineering Teams in LatAm series, more on that below. ¡Vámonos!
Trump 2.0 toll on LatAm’s software, IT exports: The unpredictability of Donald Trump’s policies at the start of his second term as US president, with tariff threats as a major saber-rattling tool, is putting markets on edge–and Latin America’s technology and software services export sector is no exception. While it is still unknown as to what extent the IT services segment could be affected, a greater protectionist take under Trump's emboldened “Made in America” push is leading LatAm companies to buckle up.
Our take: With Latin America's software services sector revenue expected to reach US$19.54bn by 2025 (Statista), we are confident the sector will be exempt from any new taxes in the near term. Taxing these software firms would hurt many US companies with strategic partners in the region, potentially slowing technological innovation in the US, which would be detrimental to all the parties involved.
In the end, economic uncertainty is a challenge many industries face with the new administration, and adaptability is key to succeeding in the business world. Technology companies are well-suited to adapt to new regulations and/or taxes the industry may face during the next four years.
We are excited to start the new year by welcoming Carlos Quirarte as our newest Connect33 advisor. With over 13 years of experience building teams from the ground up to more than 1,000 employees and $50 million in revenue, Carlos has a proven track record of assisting international companies, including Ooyala, EPAM, and C3 AI, in expanding into new LATAM markets. Welcome, Carlos!
Connect33 is a consulting firm specializing in international expansion and software development services in Latin America. We provide clients with experience-based insights to successfully enter and scale teams in the region, saving them valuable time and resources.
Our team also supports companies in finding and hiring strategic software development partners in the region via our Latam Partners platform.
Additional stories we’re following
Data center companies investing in Brazil (Reuters)
LatAm’s consolidating IT consulting & services market (BNAmericas)
How Latin America is changing the tech workforce (Entrepreneur)
Brazil’s Nubank partners with convenience store Oxxo to expand in Mexico (Reuters)
Latin America Startup Funding Ticked Higher in 2024 (Crunchbase)
Latin America’s newcomers to the data center arena (BNAmericas)
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