Desktop acquires remaining 30% stake in Fasternet for R$ 98 million

Desktop has announced an agreement through its subsidiary, Desktop Internet, to acquire the remaining 30% stake in the internet service provider Fasternet for R$ 98 million. The transaction will be completed via a single cash payment within 15 days.

Desktop previously acquired a 70% controlling interest in Fasternet in 2023 for R$ 209 million. This latest acquisition brings the total investment for full control of the company to R$ 307 million. Upon completion, Desktop will become the sole shareholder, leading to the termination of the current shareholders' agreement.

Fasternet operates in approximately 40 cities in the interior of São Paulo, including Sorocaba, Piracicaba, Boituva, and Franca. Desktop expects the full acquisition to increase operational and financial efficiencies.