Blue was formed by Marcelo Lacerda, Silvia de Jesus and Sergio Pretto in 2009 as an acquisition platform in the pay TV and broadband markets.
3i said it will help the company achieve its growth plans, not only by providing capital but also through applying its expertise in the telecommunications sector and its substantial M&A experience.
Through the acquisition, Blue plans to continue to grow its penetration levels in the cities in which it currently operates as well as expand its network into other mid-sized cities where cable TV is unavailable.
3i Brazil partner, managing director and head Marcelo Di Lorenzo said that the Brazilian cable TV and broadband market is undergoing significant change and they feel that Blue is well placed to take advantage of this new environment and further expand its offering across the country.
The completion of this transaction is subject to regulatory approval.
