Wednesday, November 22, 2006

BT Acquires Assets of Telexis Brasil

BT has acquired the assets of Telexis Brasil, Fiat's Brazilian telecommunications business, for an undisclosed sum. Telexis provides services to both Fiat Group and external customers. The company achieved revenues of around US$2 million in 2005 and had gross assets of approximately US$640,000.

BT said the deal is a significant planned step in the delivery of a global contract worth EUR 450 million over five years to supply telecommunications services to Fiat, as over EUR 30m of this value is contributed from Brazil.

  • In February 2006, BT acquired Fiat's Italian telecommunications subsidiary, Atlanet.

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