OpenGate Capital Buys Brazilian Telecom Firm

Los Angeles-based private equity firm OpenGate Capital announced today that it has acquired Philips Business Communications (PBC), a leading provider of telecommunication and data solutions in Brazil. Financial terms of the deal were not disclosed. OpenGate said it acquired PBC from global technology firm Philips. PBC provides enterprise telecommunications services for telecom operators Telefonica, Telmex, and CTBC, in addition to offering Microsoft, IBM, and 3Com products.