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Chilean WiFi solutions firm GestSol is looking to expand in Colombia and Peru this year after exponential revenue growth in its domestic market, executives from the company said in a press conference.
The firm saw annual revenues grow from US$100,000 in 2010 to US$2.0mn in 2012, GestSol said in a press release.
The company recently established an agreement with a local partner in Colombia, and expects to finalize a deal with a partner in Peru and initiate operations in the country in the second half of this year.
GestSol was founded in 2008 with the development a WiFi solution which provided broadband to public buses, later expanding to provide WiFi services in public areas and large events.
The company's WiFi products allocate the same capacity to all users using software developed by the firm.
GestSol currently provides WiFi to all of Mexican giant América Móvil's (NYSE: AMX) Chilean unit Claro's public hotspots, including for the Santiago metro system and intercity bus company Pullman Bus.
Most recently, the company implemented a new solution in the Lollapalooza music festival's VIP area, where each user was assigned capacity of 2Mbps.
Some 9,000 people connected to GestSol's WiFi over the two-day festival, with a peak of 423 people connected simultaneously, the company's general director Francisco Murillo said.
The new solution represents a further step towards providing WiFi on a mass scale, and can support around 5,000 users simultaneously, technology director Alejandro González added.
The firm is now looking to expand regionally, and plans to enter the Colombian and Peruvian markets by first providing the solution to private companies, and then to public spaces such as malls and commercial centers, González said.
GestSol also sees opportunities to provide WiFi solutions to low-income sectors of the urban population, where telcos generally have a low presence.
The company is currently in talks with Claro to provide prepaid WiFi access in such communities in Chile, at a significantly lower cost for users than traditional WiFi solutions. GestSol also aims to establish similar services in Colombia and Peru.
Next on the company's list is the possibility of entering regional giant Brazil. WiFi solutions have only been licensed for around 10-20% of the 2014 FIFA World Cup venues in the country, and GestSol is aiming to provide its connectivity solutions for the competition.
Mexico could be a further destination for the firm in 2014, through a local partner, according to González.
There are currently few technologies on a global level as advanced as GestSol's solutions in the provision of public WiFi, according to the executives.