/>
X
Business

Private equity fund Carlyle invests in Brazilian tech firm FS

The service provider will plans to expand internationally through the funding and expertise of its new shareholder.
angelica-mari-author.jpg
Written by Angelica Mari, Contributing Writer on

Private equity firm The Carlyle Group has made its first investment in the technology sector in Brazil by acquiring a minority interest in mobile and security services provider FS.

The value of the transaction has not been disclosed, but Brazilian newspaper O Estado de São Paulo suggests that the transaction value exceeds R$100 million ($32 million).

Founded in 2009, FS is a provider of services, applications and mobile content through telecom operators, Internet Service Providers and retailers in Brazil and Latin America.

The Brazilian company is active in the provision of digital security and mobile learning and interactive services, as well as cloud, insurance, assistance and specialized technical support, to more than 36 million subscribers.

"It is a great pleasure to announce our partnership with Carlyle, which will significantly help us execute our growth plans.

The investment will go towards the expansion of the company in other countries, according to the chief executive and co-founder at FS, Alberto Leite, who adds that the private equity firm will also bring "the best international practices in management and governance."

"Carlyle has great Technology, Media and Telecommunications expertise internationally, which should contribute to further accelerate FS' impressive growth," says Carlyle South America Buyout Fund's co-head, Juan Carlos Felix.

"The FS team has done an outstanding job, having achieved a strong position in the market with a solid value proposition for its business partners and subscribers. We are excited to collaborate with them in the development and consolidation of such a successful business."

Editorial standards

Related

Ransomware: This is how half of attacks begin, and this is how you can stop them
gettyimages-close-up-of-fingers-typing-on-glowing-red-backlight-keys-on-a-computer-keyboard.jpg

Ransomware: This is how half of attacks begin, and this is how you can stop them

The White House passes an AI 'Bill of Rights' that attempts to put your concerns at ease
white-house.png

The White House passes an AI 'Bill of Rights' that attempts to put your concerns at ease

This device claims to solve everyone's biggest remote work problem
Logitech Sight

This device claims to solve everyone's biggest remote work problem