Acquisitions underway in Brazil by UFINET and Vero

Acquisitions underway in Brazil by UFINET and Vero

UFINET, which provides wholesale fibre optic services across Latin America, is acquiring a majority holding in the Rio de Janeiro-based carrier NB Telecom.

NB Telecom’s 500km fibre network extends across Rio de Janeiro, connecting the city’s major data centres, business centres and points of presence. The companies expect the deal to close within weeks.

According to TeleGeography, UFINET’s fibre optic network encompasses over 75,000km across Argentina, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Paraguay and Peru. In 2019, the wholesaler acquired the Sao Paulo-based firm Netell.

Another acquisition is underway in Brazil at a more local level, with regional ISP Vero Internet set to take over Santa Catarina-based rival Neorede, a smaller firm with around 67,600 broadband subscribers - including 56,700 fibre optic customers – in the Greater Florianopolis and Vale do Rio Tijucas areas.

Vero Internet was set up by alternative investment platform Vinci Partners in January 2019, and has been on a spate of acquisitions in Brazil. The Neorede buy – which Vero expects to close before end-2021 – is its 14th purchase thus far.