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Deals

Brazil's Telefonica sells cyber security firm for $20 million

SAO PAULO (Reuters) - Brazil's telecom services provider Telefonica Brasil SA VIVT4.SA has sold its 100% stake in cyber-security firm Telefônica Cibersegurança e Tecnologia do Brasil (CyberCo Brasil) to another company within the group, according to a securities filing on Tuesday.

The sale value was 116.4 million reais ($20.27 million) and the buyer of the stake was Telefónica Cybersecurity Tech, which is indirectly controlled by Spain's Telefónica SA TEF.MC, the filing said.

As part of the deal, certain assets, contracts and staff had to be transferred from Telefonica Brasil to CyberCo Brasil, the seller said.

Reporting by Ana Mano, editing by Louise Heavens

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