South African fibre broadband provider has acquired a 45% non-controlling stake in fibre/fixed wireless access provider Herotel.
The acquisition price was not disclosed, reported by CommsUpdate citing a report from Bizcommunity.
Vumatel CEO Dietlof Mare detailed that Herotel will “benefit” from the acquisition by being enabled to sell more fibre producers in more towns and cities in South Africa.
Vumatel will also conteinue building, owning and operating its own fibre-to-the-home networks. The company has connected under 1.5 million homes and deployed over 31,000km of fibre in South Africa.
According to TeleGeography’s GlobalComms Database Herotel connects more than 400 towns and 107 municipalities across all nine provinces in South Africa.
“Most importantly, this investment has the future potential to unlock even greater opportunities for both Vuma and HeroTel to access, connect and uplift more communities in the future, connect even more schools to unlimited fibre connectivity, and empower lives throughout the country,” said Mare.