Ufinet expands into Brazil acquiring of NB Telecom
Ufinet expands into Brazil with the acquisition of NB Telecom
20 July 2021 | Natalie Bannerman
Ufinet has entered into an agreement to acquire a majority stake in NB Telecom, a Rio de Janeiro-based carrier, for an undisclosed sum.
“We believe this is a very important step both for us and our customers," said Stefano Lorenzi, executive chairman at Ufinet.
"Ufinet will leverage and expand NB Telecom’s network to increase our footprint in Brazil, providing our global clients with wholesale services of unparalleled quality and capillarity. Our goal is strong and clear: to continue the relentless growth of Ufinet’s business in the Latin America region.”
The news marks Ufinet’s second acquisition in Brazil following its purchase of São Paulo-based Netell, in 2019. This more recent transaction solidifies the company's footprint into Brazil’s second-largest market and one of Latin America’s major business hubs.
“This transaction represents an important milestone for our group. NB Telecom boasts a strategic network in Rio de Janeiro, which includes both aerial and underground capillarity between the city’s most important business buildings, data centres, and PoPs," said Iñigo García del Cerro, CEO of Ufinet.
"This is a key expansion, not only from a strategic point of view but also to better support our customers’ needs in Brazil.”
Once the deal is completed, contingent on meeting the standard conditions of this type of transaction in Brazil, this agreement will mean the acquisition of a majority stake in NB Telecom and controlling interest by Ufinet. The closing of the transaction is expected to become effective in the coming weeks.
“This acquisition creates a major platform for our customers. We can now offer an international footprint connecting Rio de Janeiro to the Americas at an unprecedented level. It has always been a dream to see our firm join efforts with such a globally respected organization as Ufinet," said Edgard Sanchez Leal and Pedro Augusto Oliveira Alves, co-founders of NB Telecom.
"In these 21 years of our history, we have built a company that seeks excellence in quality and customer service, and it is great to see all our work and dedication culminating in this new chapter for the company and the Internet users of Rio de Janeiro.”
NB Telecom currently operates a fibre network of more than 500km connecting all major data centres, PoPs and business centres in the city of Rio de Janeiro.
According to the company, the transaction is due to close in the 'coming weeks'.
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