Spanish telco Avatel has reportedly sold its data center business to funds operated by Intermediate Capital Group (ICG) and Teras Capital.

The deal has been reported by El Economista, but yet to be confirmed by the companies involved. DCD has reached out to all three parties.

– Avatel

Terms of the deal haven’t been shared, but the publication said the telecoms provider divested the unit to focus on its core carrier business.

Fiber provider and MVNO operator (through Masmovil) Avatel has acquired dozens of small local operators in recent years – taking over 25 in 2023 alone for a total of €85 million ($93.1m) and reportedly acquiring more than 150 companies since 2020.

Avatel launched its Beta Data Center subsidiary back in late 2021. Details about the company and its data center footprint are scarce.

In October 2023 ICG acquired a portfolio of UK data centers leased to Vodafone. The company took over the properties – totaling 260,000 sq ft (24,155 sqm) across five data exchanges around London – from British Land for £125 million ($152.2m).

Teras has previously partnered with Asterion to acquire Spanish fiber firm Olivenet and Olin Group in 2022, and sold Chilean fiber unit Mundo Pacífico to DigitalBridge in 2021.