Friday, September 24

Verne enters the Portuguese market with MásMóvil and its subsidiary Nowo

Verne CEO Gianni Cecchin at the firm's premises.

Verne CEO Gianni Cecchin at the firm’s premises.

The telecommunications group Alicante Verne takes a new step in its internationalization and adds Portugal to the foreign markets in which it is already present. The company that Gianni Cecchin directs began operations in the neighboring country last week, after winning the contract for the installation and maintenance of a client of Nowo, the MásMóvil subsidiary, which is the third largest operator in the Portuguese market.

The Alicante company will also collaborate in the modernization plan of the Nowo network, with the replacement of the coaxial cable by fiber optic, some work that will start in the second half of next year. Verne expects to bill around three million euros in his first year in Portugal, a figure that they hope to raise to around 10 million in 2023, according to sources from the company, which has set up a subsidiary in record time in the neighboring country to develop this business.

Initially, it will have a workforce of about 50 workers, which will increase as the fiber optic implantation work begins, which is also key for the deployment of 5G. MásMóvil has redoubled its commitment to its Portuguese operator after taking full control of the company last November, of which it already had 51%, in a corporate operation with which it intends to reinforce its presence in the residential segment in this country.


For his part, for Verne, the entry into Portugal represents a new step in his internationalization strategy, which will experience a significant boost next year. In addition to this new market, the Alicante group foresees significant growth in turnover in the other two countries where it already has a presence -Germany and Morocco-, thanks to the contracts it has signed.

Specifically, the firm estimates that its income abroad will go from the current 25 million to 62.5 million in 2021, with which the international business will already account for about a third of the total.

In the case of Germany, where it plans to go from 20 million to more than 50 million in turnover, the firm hopes to make profitable its agreements with Deutsche Glasfaser, Nokia and, above all, with O2, the subsidiary with which Telefónica wants to fight in fiber optics in this country. It should be remembered that in most European states the implementation of these networks is far behind Spain, so that Verne and other Spanish installers now have an important advantage to win the contracts for their deployment.

For its part, the company also plans to increase its figures in Morocco by around 40%, where it already works for Inwi and Orange Maroc, and has just obtained approval to also work with Maroc Telecom.

Technological subsidiary

Internationalization is just one of the legs of Verne’s growth plan, which recently also presented its new «Tech» division, with which it wants to become a leading player in the field of new technologies, such as Artificial Intelligence, cloud or cybersecurity, after acquiring several specialized firms.

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