AméricaMóvil leads, but Brazil’s Oi and Colombia’s Colombia Telecom are the growth champions.

The ranking of the region’s 40 largest technology companies in Latin America – a ranking of the region’s largest forty technology companies by revenues in 2012 – is heavily dominated by the telecommunications industry.AméricaMóvil – the telecommunication company owned by Mexican billionaire Carlos Slim – is the region’s largest technology company, with nearly $60 billion in revenues. The next two spots are dominated by Telefónica: Telefónica from Spain comes in at number two with $37.8 billion, while Telefónica Brazil saw $15.5 billion – a 64 percent increase. Telefónica Brazil is a rebranding of the company that includes the shares of the former Telesp and Vivo.
This year’s growth champions were Brazilian telecommunications company Oi(number 5 on the list) and Colombian telecommunications company Colombia Telecom (Number 26). Both companies are the largest operators in their respective markets. Oi saw revenues grow 149.9 percent to $12.3 billion, while Colombia Telecom saw them grow 131.8 percent to $2.2 billion.
All in all, the industries performed well last year. Most companies saw strong growth in revenues, while only nine posted declines. The largest decline was suffered by Brazil’s Nextel – number 25 on the list, down from 21 last year – which saw revenues decline 16 percent to $2.9 billion.
Latin America’s Top 40 Tech Companies