Vero Internet swoops for Neorede; deal represents 14th successive takeover

20 Jul 2021

Brazilian regional ISP Vero Internet has agreed to acquire smaller rival Neorede, which is based in Santa Catarina and operates in Greater Florianopolis and Vale do Rio Tijucas. Neorede currently serves 67,600 broadband subscribers, of which 56,700 utilise its fibre-optic networks. According to TeleTime, the contract was signed on 13 July, and Vero expects to complete the takeover by the end of the year.

Vero Internet was created by Vinci Partners, an alternative investment platform specialising in asset management, back in January 2019. The TeleTime report adds that the deal represents the 14th bolt-on acquisition bankrolled by Vinci Partners to date.

The National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) credited Vero with 224,951 fixed broadband subscribers as of 31 March 2021.

Brazil, Vero Internet