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Squared Capital signs agreement to buy Mexican company Kio Networks

For Squared Capital, this acquisition strengthens its digital infrastructure portfolio.

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This article was translated from our Spanish edition using AI technologies. Errors may exist due to this process.

Squared Capital , a firm that focuses on investing in public service projects such as telecommunications, announced the purchase of Kio Networks , a Mexican information technology services company and one of the first unicorns in the country.

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As reported by El Financiero , these days both companies signed an agreement for Squared Capital to acquire Kio Networks. This agreement involves several investments whose goal is to invest 3 billion dollars . For Squared Capital, this acquisition strengthens its digital infrastructure portfolio.

“I am pleased to announce that we have reached an agreement with I Squared Capital for the sale of KIO Networks, a company in our portfolio that we have supported since its founding. We value and appreciate the trust that has been placed in KIO Networks to continue expanding and developing its service offering and accelerating the digital transformation in the markets where it participates, ” said billionaire María Asunción Aramburuzabala, whose office supported KIO, about the agreement.

Kio Networks, founded by Sergio Rosengaus in 2000, has 40 data centers in Mexico as well as a presence in Central America and Spain. 50% of its income comes from the Mexican government, which is its main client. The fact that the government is so involved with the company could spur the sale process.