en.Wedoany.com Reported - Alares Internet announced on Thursday (18th) that it has signed an agreement to acquire Oquei Telecom and its affiliates for R$189 million. The transaction was formally completed through its wholly-owned subsidiary Alares Internet S.A., with the acquisition targets including Oquei Telecom Ltda., Oquei Tecnologia Ltda., Oquei BR Telecom Ltda., and Oquei BR Tecnologia Ltda.
According to the company's material fact disclosure, of the total transaction amount, R$75.6 million will be paid at closing, with the remaining amount to be paid in ten consecutive semi-annual installments.
Headquartered in José Bonifácio, São Paulo state, Oquei primarily provides fiber optic broadband services to residential and corporate customers, while also operating fixed-line telephony, mobile virtual network operator (MVNO) mobile services, television, and streaming services. According to Alares, the acquired company has approximately 68,000 customers, covering 30 cities in northwestern São Paulo state, with a network spanning over 3,100 kilometers, serving more than 277,000 households and businesses, and employing around 350 staff across 22 physical stores.
Upon completion of the transaction, Alares Internet S.A. will hold full equity in the acquired companies.
The material fact disclosure shows that, based on the combined annual results of the acquired companies, their total revenue was R$89.2 million, with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) reaching R$35.5 million. Based on the disclosed amount, the acquisition is valued at approximately 5.3 times EBITDA, without considering any adjustments that may be stipulated in the contract.
Completion of the transaction remains subject to customary conditions precedent for such transactions, including approval from the Administrative Council for Economic Defense (Cade) and the National Telecommunications Agency (Anatel).
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