(Ecofin Agency) - Hexabyte, the Tunisian company specialized in the supply of internet via ADSL, announces the opening of its capital to a local operator whose name is still kept secret. In a release published October 9, 2018, on the website of Tunisia’s stock exchange, the Internet Services Provider indicated that it was still negotiating and the procedures for this operation have already been initiated so as to be concluded by the end of 2018.

According to Hexabyte’s administrative board, the decision to sell part of its shares falls in line with its development strategy. Indeed, the company is open to any alliance that would help it expand its local commercial network, enter the international markets and improve its performances.

Let’s note that the sale is still subjected to the approval of the governing bodies of the two companies involved in the operation. By the way, a "Term Sheet" will be signed in that regard in the coming days.

In 2017, Hexabyte presented a turnover of DT7,085,187 ($2,506,349), an improvement of 5.90% compared to the DT7,503,806 ($2,654,433) generated in 2016. During Q1,2018, the company generated a turnover of DT4,530,531 ($1,602,652). This quaterly result represent an increase of 45% compared to the DT3,119,505 ($1,103,509) generated during the same period in 2017.