Telefonica Brasil announced on Monday that its subsidiary, TCloud, has entered into an agreement to acquire cloud service companies IPNET and IPNET USA for a sum of up to 230 million reais ($41.29 million). The transaction’s total value is contingent on meeting specific financial and operational targets, the company stated in a securities filing.
Telefonica Brasil, which is 75 percent owned by the Spanish telecom giant Telefonica, indicated that this acquisition aims to enhance TCloud’s portfolio and bolster its professional and managed services capabilities, enabling faster growth and development.
“The deal will expand TCloud’s portfolio and strengthen its professional and managed services, allowing it to speed up and grow,” Telefonica stated.
In 2023, IPNET reported a net revenue of 218 million reais, highlighting its financial strength and market presence. However, the acquisition remains subject to approval by Brazil’s antitrust authority.
This strategic move is seen as a significant step for Telefonica Brasil as it seeks to strengthen its position in the competitive cloud services market. The approval process and subsequent integration of IPNET and IPNET USA will be closely watched by industry analysts and competitors.
