Canadian telecom giant Columbus International has acquired Colombian telecom re-seller Lazus in a deal that will significantly bolster its operations in the Andean country. Financial details of the deal are yet to be disclosed.
Lazus, which allows carriers to lease its telecom infrastructure, is known as “the carrier of carriers” in Colombia. With nearly 200 employees, the firm has operations in more than nine major cities in the country. Columbus is hoping to use Lazus’ telecom network in Colombia to offer telecom services to the business community.
Formerly Promitel Colombia, Lazus fits well with Columbus’ business operations, because the Canadian firm also makes its money from renting out its telecom capacity to telecom operators. Its main source of revenue is the sub-sea fiber optic cable network that it built linking the Caribbean with Central America and the United States.
Acquisition seems to be at the center of its growth strategy. Over the years, Columbus has grown significantly by acquiring smaller competitors one after another. Bahamas-based telecom wholesaler New World Network was the first rival it bought outside of North America.
Then it acquired Telebarbados and Tele-St. Lucia in the Caribbean, and Telefonica Corporativa in Honduras. Last year, it purchased Karib Cable to strengthen its digital cable offering.
Columbus has little or no rivals in the region, while its clients include telecom carriers like Telefonica, America Movil and Cable & Wireless.
Columbus will continue to grow with this acquisition in Colombia. Lazus, according to the press release, owns fiber network that spans approximately 3,500 kilometers, covering 12 cities and 23 million people. In addition, the Colombian firm owns and operates telecommunication systems in Panama and Costa Rica.
“The acquisition of Lazus marks yet another important milestone for Columbus as we continue to execute on our focused business plan,” said Brendan Paddick, chairman and chief executive officer of Columbus.
Columbus’ subsidiary Flow provides wide-ranging telecom services in several Caribbean countries, including Trinidad, Jamaica, Barbados, Grenada and Curacao. In addition, it provides data center hosting services all across the Americas.