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Brazil's largest internet service provider, Universo Online (UOL) (Bovespa: UOLL4), will merge operations with Latin American broadband and IT services provider Diveo, which it bought at end-2010 for 694mn reais (US$414mn at the time), local press reported.
The new company will be called UOL Diveo.
"Our operations, solutions and sales teams are totally integrated, which leaves us on good footing to expand the business and lead market growth," UOL Diveo president Gil Torquato was quoted as saying.
The merger makes UOL Diveo Brazil's largest IT data and infrastructure provider, according to data from consultancies Frost & Sullivan and Flow Research.
The deal brings together six data centers - four in Brazil and two in Colombia - as well as a portfolio of more than 3,000 corporate clients and 48 telecom access hubs, which link some 1,800 points of presence.
The company has more than 1,100 employees and presence in seven Brazilian cities - São Paulo, Campinas, Porto Alegre, Curitiba, Rio de Janeiro, Belo Horizonte and Brasília - as well as a subsidiary in Colombia.