Portuguese operator Nos has signed an agreement to sell its unit Nos International Carrier Services share to iBasis, the subsidiary of Tofane Global. As part of the deal, iBasis will continue to supply Nos group companies with wholesale international voice and SMS services previously provided by Nos ICS.
Completion of the agreement is subject to clearance by the Competition Authority. With this transaction Nos said it will increase its focus on its core telecom business whilst optimizing the underlying cost structure for international voice and SMS traffic.
The takeover gives Tofane EUR 141 million in additional annual revenue from around 80 wholesale customers with over 2 billion minutes in traffic. The company will be consolidated under the iBasis brand, earlier acquired from KPN. The deal strengthens iBasis’ footprint in Portuguese-speaking markets, including Portugal, Brazil, Angola, Cape Verde, Guinea-Bissau, Mozambique, East Timor, Macau, and Sao Tome and Principe.
