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OpenGate acquires Philips Business Communications in Brazil

Private equity firm OpenGate Capital has acquired Philips Business Communications, a provider of telecommunication and data solutions in Brazil.

The business was acquired from healthcare and technology enterprise Philips for an undisclosed amount.

The transaction is the first South American investment for OpenGate Capital.

OpenGate bought 100 per cent of the Brazilian entity and will partner with existing management to further grow and expand PBC’s 40-year foothold in the telecommunications market in Brazil.

Philips has divested from its other non-core telecommunications divisions.

“With a solid market position, renowned brand and a large installed base of premier customers, PBC in Brazil epitomises a high-potential division of a world-class company, the perfect match for our investment portfolio,” says Andrew Nikou, chief executive of OpenGate Capital. “And, PBC’s location is especially appealing. Brazil is becoming one of the world’s largest economies, ripe with acquisition possibilities for our firm and exciting untapped upside for PBC. We will continue to explore opportunistic investments throughout Latin America as we add to OpenGate’s portfolio of top-quality companies and expand our international presence.”

Headquartered in São Paolo, PBC is a preferred supplier for enterprise business solutions for the primary telecommunication operators throughout Brazil, including Telefonica, Telmex, and CTBC. PBC is also a distributor of 3Com and IBM Internet Protocol telephony products and Microsoft Office Communications Server, a unified communications solution providing presence, instant messaging, unified conferencing and enterprise voice solutions.

PBC is OpenGate’s second acquisition of a subsidiary or division from Philips. In 2006, OpenGate purchased Ommic, another former division of Philips that specialises in the development, production and industrialisation of materials, technologies and integrated circuits based on GaAs and InP. OpenGate sold Ommic to Egalux Luxembourg in 2008.

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