QCOM--VeloCom Joint Venture Expands Brazilian Internet Service Presence; ISP Acquisition Will Complement Brazilian Assets Owned By VeloCom, Bell Canada International and QUALCOMM Inc.
BUSINESS WIRE - March 23, 2000 09:46
DENVER, Mar 23, 2000 (BUSINESS WIRE) -- VeloCom Inc., a rapidly growing international broadband communications company, today announced that its recently formed joint venture, BV Interativa Ltda., has acquired Brazilian Internet service provider BRHS Internet S.A. With the acquisition of BRHS, BV Interativa is able to move quickly to offer a variety of Internet and Web-based services.
BRHS, founded in 1995, was one of the first nationwide providers of Internet access in Brazil. The company offers Internet services to business and residential customers in 18 Brazilian cities including Sao Paulo, Rio de Janeiro, Belo Horizonte and several other state capitals. BRHS targets the residential market segment with dial-up and high-speed (ISDN) Internet access. Dial-up and high-speed and dedicated Internet access, Web hosting, Virtual private network (VPN) and collocation services are targeted to the business market.
"BRHS has excellent geographic coverage," said David Leonard, president and CEO of VeloCom. "Its operations are concentrated in major cities and complement the Vesper assets also owned by Bell Canada International, QUALCOMM Inc. and VeloCom. Additionally, its business and residential target markets are consistent with that of Vesper."
Vesper will be a major supplier of nationwide network capacity and last mile access to BRHS.
BRHS will maintain its current management.
"With BRHS' experienced management and technical staff, and reputation for high-quality customer care, there is strong potential for growth," added Leonard. "BRHS clients can expect a seamless transition with the same high-quality service they have come to expect, as well as some exciting service enhancements in the near future."
About BV Interativa Ltda.
BV Interativa Ltda. was formed by VeloCom, Bell Canada International Inc. (BCI) and QUALCOMM Inc. to pursue Internet access and Web-based service opportunities in the fast-growing Brazilian digital economy. VeloCom holds 45 percent interest in BV Interativa. VeloCom, BCI and QUALCOMM Inc. are also shareholders in Vesper, a competitive communications provider that recently launched services to 44 cities in Brazil, including Latin America's second and fourth largest cities -- Sao Paulo and Rio de Janeiro.
About VeloCom Inc.
Denver-based VeloCom is emerging as a leading provider of competitive voice, data and Internet services in key markets in Latin America. Privately held, VeloCom was formed in June 1998 under the name WLL International Inc. Fred Vierra, chairman; David Leonard, CEO and president; and Nick Kauser, acting chief technical officer, lead VeloCom (www.velocom.com). |
