Axtel has announced the closing of its acquisition of Avantel, consolidating the combined company’s position as Mexico’s second-largest fixed line telecoms operator. The deal valued Avantel at USD500 million, including the assumption of Avantel’s debt. With the closing of the transaction, Axtel’s annual revenues will exceed USD1 billion.
The purchase of Avantel strengthens Axtel’s position as an integrated telecoms company providing local, long-distance, broadband, data and custom communications solutions to over 750,000 residential, small, medium and large customers, as well as multinational and government entities, throughout Mexico. Axtel’s last-mile access technology will now be combined with Avantel’s IP-based network, 7,700km of fibre-optic infrastructure and 300km of metropolitan fibre-optic ring.