ADVFN is pleased to announce that it has reached heads of agreement for the formation of a joint venture company with Infolatina.
The joint venture company will create, market and promote a Portuguese-language version of the ADVFN website in Brazil. The site will provide local and global stock market data by utilising ADVFN's well-established technology platforms.
ADVFN will be responsible for the technical aspects of the project, while Infolatina will be responsible for local marketing, advertising and customer support. The Brazilian site will have a ready-made audience in the form of Infolatina's current substantial customer base and will benefit from the company's 21 years of experience in providing stock market data to the Brazilian market.
ADVFN's Latin American offering already includes Mexican and Chilean stock market information, which is available to all its global users. The company will shortly be announcing the launch of financial data from the Sao Paulo Stock Exchange - the Bolsa de Valores de Sao Paulo (BOVESPA).
Clem Chambers, CEO of ADVFN, commented: "Infolatina Ltda's local knowledge and expertise in the marketing of financial products to investors makes it a perfect fit with ADVFN in this exciting project. Brazil holds 50% of Latin America's top 500 companies and has the best performing stock market in the region, making it a key target for ADVFN's global expansion plans and affording both companies many opportunities."
Joao Luis Torres, Chairman of Infolatina Ltda, said: "This joint venture will benefit immensely from ADVFN's status as European leader in its field. The website will provide Brazilian investors with unrivaled native-language access to a wealth of worldwide market information and will allow them to take advantage of advanced analysis tools."