Minas Gerais-based ISP Vero Internet has agreed a takeover deal for smaller rival INB Telecom. According to TeleTime, INB operates in the metropolitan region of Porto Alegre and on the coast of Rio Grande do Sul, serving around 51,000 subscribers. The transaction is expected to be completed by the end of September and the integration process between the two ISPs should conclude by end-December. The value of the deal has not been disclosed.
As previously reported by TeleGeography’s CommsUpdate, in July this year Vero Internet agreed to acquire another smaller regional operator, in the form of MKA Telecom. MKA serves 45,000 subscribers across 23 municipalities in the Southern Region (Parana, Santa Catarina and Rio Grande do Sul).
TeleGeography notes that Vero Internet was created by Vinci Partners, an alternative investment platform specialising in asset management, back in January 2019. The telco comprises the combined assets of eight ISPs in Minas Gerais, namely BD OnLine, NWNet, Efibra, PowerLine, G4 Telecom, Viaceu, ViaReal and City10. According to its website, Vero Internet currently serves 180,000 customers in 49 cities.