Spain's Gigas acquires Portuguese telecommunications company ONI for €40M

Spanish technology company Gigas, specialized in cloud computing services, has acquired Portuguese operator ONI, which until now belonged to MásMóvil.
Diego Cabezudo, CEO and co-founder of Gigas

Spanish technology company Gigas, specialized in cloud computing services, has acquired Portuguese operator ONI, which until now belonged to MásMóvil.


According to Gigas, with this purchase it seeks to become a relevant operator in the market for convergent telecommunications services, "cloud" (cloud performance) and security for companies in Iberia. Oni provides its services in telecommunications, cloud data and security to more than 1000 companies in Portugal and offers retail supply of voice and data to other telecom operators.

The sale of Oni follows a shareholder reorganization of Cabonitel Group, which also owns Nowo, whereby its two owners, MásMóvil and GAEA, have changed their stake in the company. While MásMóvil becomes the owner of 100% of Cabonitel, and therefore of Nowo, GAEA takes control of Oni, which, in turn, sells it to Gigas.

62% of the purchase of Oni will be paid through newly issued shares of Gigas, which will make the GAEA fund the first shareholder of the Spanish technology company after the operation. The remaining amount will be financed in cash

RRP Advogados acted for Gigas, with a team comprised of partner Rodrigo Falcão Nogueira and senior associate Jacinta Amorim Vieira.

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