(Ping! Zine) – Silver Lake, a US-based private equity firm announced yesterday that it has entered into an agreement to buy a minority interest in Brazilian web hosting company Locaweb.
Financial details of the agreement and the size of the stake have remained undisclose.
Via buying into Sao Paulo-based Locaweb, ASilver Lake will be able to accelerate its growth plans in Brazil, the world’s fifth-largest Internet market.
Silver Lake said it would explore additional investments in the Brazilian IT sector.
Locaweb, which plans to use the funds from the investment to upgrade its second data centre, built in 2009, and boost its cloud servers supply, generated revenues of about USD76m (EUR58.1m) last year.