Flō Networks plans to acquire Axtel Companies through public tender offers
Flō Networks, a U.S.-based digital infrastructure provider, has announced its intention to launch public tender offers to acquire up to 100% of Controladora Axtel, S.A.B. de C.V. and Axtel, S.A.B. de C.V., collectively known as the Axtel Companies. The move marks a significant step in Flō's strategy to bolster its operations and expand its reach in Mexico and the broader region.
Flō has secured preliminary approval from the boards of both Axtel Companies and is in the process of obtaining the necessary regulatory approvals. The public tender offers are contingent upon further authorizations from the Comisión Nacional Bancaria y de Valores and clearance from the Comisión Nacional Antimonopolio. Additionally, the offers will be subject to the receipt of any other required regulatory approvals and the satisfaction of specific contractual and corporate conditions.
Miguel Fernandez, CEO of Flō Networks, expressed that the acquisition is a critical component of the company’s long-term vision. "This step is crucial for our ongoing development and the technological infrastructure that will drive Mexico's economic and technological growth," he said. "The merger of our networks and capabilities will create a more robust digital infrastructure platform, capable of serving customers more effectively across Mexico and beyond."
Fernandez further elaborated that the combination of Flō and Axtel's assets and expertise would enhance Flō's ability to invest in network resilience, expand its digital service portfolio, and deliver greater value to businesses. "Stronger infrastructure supports stronger businesses, fosters innovation, and opens new opportunities for the communities and economies we serve," he added.
The proposed acquisition is anticipated to create significant operational and commercial synergies, support ongoing investment in critical infrastructure, and generate long-term value for customers, employees, shareholders, and the communities the companies serve. The transaction aims to strengthen Flō's position as a leading digital infrastructure provider, with a comprehensive network spanning over 30,000 route miles across the Southwestern United States and Mexico, and providing connectivity to 15 countries in the Americas.
Flō Networks, which was founded as Transtelco in 2001, has grown into a leading digital infrastructure provider, connecting companies across the U.S.-Mexico border and throughout the Americas. The company offers a range of connectivity solutions and advanced cloud infrastructure to Fortune 500 companies, telecommunications providers, and cable operators.
As Flō prepares to move forward with the public tender offers, the company remains committed to ensuring a smooth and transparent process in accordance with Mexican securities laws and the regulations of the Bolsa Mexicana de Valores.