On Monday, Telefónica Brasil revealed in a securities filing that its subsidiary, TCloud, agreed to acquire cloud service providers IPNET and IPNET USA for up to 230 million reais ($41.29 million).
The final value of the agreement is subject to the achievement of specific financial and operational objectives. This acquisition is expected to enhance TCloud’s service portfolio and strengthen its professional and managed services, facilitating faster growth and expansion.
In the previous year, IPNET reported net income of 218 million reais.
The acquisition is still pending approval by Brazil’s antitrust regulator.
