Desktop Internet agreed to purchase the remaining 30% stake in São Paulo-based internet provider Fasternet for R$98 million, the company announced on Tuesday.
The acquisition, to be settled in cash within 15 days, will give Desktop full ownership of Fasternet, which operates in approximately 40 cities across the interior of São Paulo state. The transaction follows Desktop's 2023 purchase of a 70% stake in Fasternet for R$209 million.
Desktop cited operational and financial efficiency gains as the rationale for the deal, though no further details were provided. The consolidation of Fasternet's remaining equity aligns with the company's strategy to expand its internet service offerings in Brazil's interior regions.
