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History and Corporate Profile

History

Positivo Tecnologia was born from the Positivo Group, one of the largest educational groups in Brazil. Founded in 1972, with the creation of a school and a printing company, the Positivo Group currently has leading companies in the three segments in which it operates: education, printing and publishing, and technology. Based on the great success of its innovative teaching methodology, which was developed, refined and systematized by the group‘s renowned founding teachers, its own schools were expanded to other educational levels and, in 1979, the group started selling books and services to other schools throughout Brazil.

Currently, the group has around 40,200 students in its own units (Positivo Schools, Positivo Course and Positivo University), having served thousands of students with its products and services since its foundation. Positivo Group educational portals are present in around 14,000 schools. In addition, Posigraf is the country‘s first Zero Carbon printing company. The Positivo Group currently has more than 9,000 employees.

Positivo Tecnologia was created in May 1989 with the goal of manufacturing and selling computers to Positivo Group’s client schools nationwide. The following year, the Company identified the opportunity to provide computers and technology solutions to state-owned companies and institutions through public tenders.

In 1994, Positivo Tecnologia created its Educational Technology segment and began selling the first educational software for schools and retail. In 2000, it launched Portal Educacional, a website for private schools, and, in the following year, Portal Aprende Brasil, developed to meet the needs of the departments of education and public schools.

In 2004, the Company made its debut in the retail market, selling computers to Brazil’s largest retail chains and became the largest computer manufacturer in Brazil within nine months. Positivo Tecnologia also began selling E-Blocks educational table in the United States in 2004, and it currently exports this product to over 40 countries. At the end of 2005, it started selling a line of desktops, notebooks and servers to the corporate hardware market, surpassing the mark of 500,000 computers produced. In 2006, it received the important award for Best Company in the Technology and Computing sector of the Biggest and Best Edition of Exame Magazine, and it surpassed the mark of one million computers produced in the same year.

On December 11, 2006, Positivo Tecnologia began trading its shares in Novo Mercado, the highest level of corporate governance of BM&FBovespa (currently B3 S.A.). The IPO raised R$604.1 million (10% primary and 90% secondary), driven by demand from a solid and diversified base of institutional and retail investors, totaling 18,466 individuals. It attracted the highest number of investors in an IPO since 2004, according to the BM&FBovespa (currently B3 S.A). Positivo Tecnologia has also entered the Special Corporate Governance Stock Index (IGC) and the Special Tag-Along Stock Index (ITAG) of the BM&FBovespa (currently B3 S.A). In September 2007, with less than nine months of trading, POSI3 shares were listed in the IBX-100 portfolio (index composed of the 100 most actively traded shares on BM&FBovespa (currently B3 S.A)), proving its good liquidity. In October of the same year, it reached the mark of 2.5 million manufactured computers. In December 2007, POSI3 shares were listed in the INDX (Industrials Index).

In 2008, in addition to direct sales to large companies in the corporate market, a new sales channel was created for this market, with the goal of selling computers and technology services to small and medium enterprises. In the same year, the company started the verticalization of desktop motherboard production in the Curitiba (PR) plant and manufacturing LCD monitors in its new unit in Ilhéus (BA).

In 2009, moving forward with verticalization projects, the Company began manufacturing notebook motherboards and desktop memory boards. In December, the company acquired the computer brand Kennex, which complemented its already successful retail strategy.

In 2010, the Company inaugurated the verticalization of desktops and, in December, began its internationalization process through an alliance with BGH, a major player in Argentina‘s consumer segment. The Company acquired 50% of Informatica Fueguina S.A. (IFSA) to create a joint venture aimed at selling desktops, notebooks, all-in-one computers, e-readers and tablets in Argentina and Uruguay. Positivo and BGH jointly manage the company.

In 2011, the Company implemented a series of measures to increase its efficiency and achieved important results throughout the year. In addition, after extensive research and development, the Company launched Positivo Ypy, the first tablet developed exclusively for Brazilian consumers with digital content in Portuguese. In the second half of 2011, the Positivo BGH brand started selling in Argentina, and it became the local market leader within the first months of operation.
At the end of 2012, the Company debuted in the mobile phone market with the launch of three touchscreen smartphone models and two physical keyboard devices – known as messaging phones.

The good acceptance of the new mobile devices was confirmed in 2013 with the successful launch of the Company‘s new product line. The new handsets were developed based on consumer surveys and include features such as dual chip and TV versions. In the case of smartphones, the Company allocated part of its R&D resources to adjusting the Android operating system, making it easier to use and introducing apps of interest to the middle class. Notwithstanding physical sales, the popularization of mobile devices is expected to generate synergies that leverage the results of the new business unit focused on digital convergence, as the Company is investing in the development of a virtual ecosystem with digital content in Portuguese, Mundo Positivo (Positive World), and offering online and embedded advertising.

The year 2013 was marked by both product diversification and market diversification, with strong expansion in the government market and the consolidation of good performance in the corporate market. In this sense, 2014 also brought important advances: we started selling mobile phones in the carrier market, which represents more than one third of the market, and we celebrated the expansion of the joint venture with the Argentine group BGH, with the signing of a contract to supply students with computers in Africa. This five-year project in partnership with the Rwandan Ministry of Education could serve as a model for other African nations.

In 2015, the Company launched the Quantum business unit, which focuses on the sale of high-performance smartphones with the best value for money, and, in 2016, it received the license to start selling the VAIO brand in Brazil, with high-end notebooks. Such actions reinforced the Company‘s cutting-edge status in developing and adapting technologies to the taste of Brazilians.

In 2017, the Company announced preparations to change its corporate name to Positivo Tecnologia S.A. With a broader and updated concept, Management understands that the new corporate name is better suited to the moment of diversification of the Company‘s business, which currently operates with a diverse portfolio of brands, target audiences, business segments and geographic locations. The change and the corresponding amendment to the Bylaws were unanimously approved by the votes present at the Annual and Extraordinary Shareholders’ Meeting held on April 28, 2017. Also in 2017, the Company inaugurated Boreo Indústria de Componentes, a company located in Manaus, focused on the manufacture of boards and batteries for computers and mobile phones to serve Positivo Tecnologia and the brands under its umbrella (Positivo, Quantum and VAIO), while being open to market demands.

In 2018, Positivo Tecnologia acquired 80% of Accept, a company specializing in the production and marketing of servers, storages, workstations, high-performance GPUS appliances, mini PCs, desktops and high-performance computing solutions, which has been offering products and services to small, medium and large companies, as well as educational institutions and government entities, since 1988. In addition, the company created the 2 A.M. brand with accessories, notebooks and desktops for gamers, developed in partnership with NVIDIA, prioritizing an immersive, high-performance gaming experience.

Also in 2018, Positivo Tecnologia opened its first Private Equity Investment Fund (FIP), as a sole shareholder. This vehicle will concentrate the Company‘s future investments in technology-based companies, which receive part of the R&D investment obligations required by the IT Law, in line with the new regulations issued by the federal government, in return for tax incentives offered to IT companies.

In 2019, Positivo launched the Casa Inteligente (Smart Home) brand, whose product line is focused on the smart home segment, which currently sells around R$4 billion in the country. The product portfolio consists of Wi-Fi cameras, power plugs, smart lamps, universal remote controls, alarms and security sensors.

In the first half of 2019, Positivo Tecnologia was one of the largest computer manufacturers in Brazil, accounting for 14.3% of all computers sold in the Brazilian market, according to IDC. In the handset segment, the Company sold 905,200 devices, accounting for 3.7% of the market, according to IDC.

Corporate Profile

In 2019, Positivo Tecnologia has been one of the largest computer manufacturers in Brazil, accounting for 14.3% of all computers sold in the Brazilian market on June 30, 2019, according to IDC. We have a significant share of the computer market in the retail, corporate and public sector segments, and absolute leadership in computers with tickets of up to R$1,200.00, according to information from IDC for 2018.

Thanks to its leadership and relationship with retailers, the Company is in a privileged position to meet the country’s growing demand for devices, especially among income classes B and C. We have a unique knowledge of Brazilian middle-class consumers. We have been operating in this market for 30 years, allowing us to build brand recognition in the local market. We created a leading brand in terms of market share with wide acceptance in the Brazilian middle class.

In Brazil, Positivo Tecnologia offers a complete range of devices, including desktops, all-in-one computers, notebooks, netbooks, tablets, servers, smartphones, feature phones, portable chargers, mobile phone accessories and innovations in the medical area. See below our product portfolio:

In addition, to serve and support millions of end consumers, companies and government agencies, the Company has a large and qualified technical support network covering the entire national territory and the Positive Relationship Center, with whom most contacts relate to basic computer usage, operating system or connection issues. The company has over 250 accredited companies distributed nationwide.

Click here to view Positivo Tecnologia´s Corporate Video.