Fibre provider, Vumatel has acquired a 45% non-controlling stake in Herotel, a fixed wireless internet service provider and player in the local Fibre to The Home (FTTH) industry.<\/p>\n
Herotel has passed over 150,000 homes and business users, providing internet access across more than 400 towns and cities.<\/p>\n
The acquisition will accelerate Herotel\u2019s vision of bridging South Africa\u2019s digital divide, fostering economic growth and connecting more of the country\u2019s secondary communities, Vumatel said.<\/p>\n
“Herotel will benefit from this deal by immediately being able to continue its plans for the deployment of fibre connectivity solutions in South Africa\u2019s secondary cities and towns \u2013 effectively allowing more people throughout the country to access unlimited high-speed internet,” said Dietlof Mare, chief executive officer at Vuma.<\/p>\n
“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.”<\/p>\n
Herotel said its vision is to connect as many South African communities to faster, more affordable internet as possible.<\/p>\n
“We\u2019re confident that this deal will help accelerate this vision,” said Francois Wessels, chief financial officer at Herotel.<\/p>\n
“We believe that Vumatel is as dedicated as we are to bridging the digital divide in building world-class infrastructure that will allow more communities throughout the country access to high-speed, abundant internet access.”<\/p>\n