HIG Capital has agreed to sell Desktop, a Brazilian internet service provider, to Claro, a subsidiary of América Móvil, in a deal valued at approximately $750 million. The transaction marks the exit of HIG's investment in Desktop, which has grown substantially under its ownership. Since HIG acquired Desktop, the company expanded from roughly 150,000 subscribers to over 1.2 million subscribers, representing a more than sevenfold increase.

Desktop's growth was fueled by aggressive expansion, including 10 acquisitions made during HIG's ownership period. The Brazilian ISP operates in a competitive telecommunications market where consolidation has been accelerating. Claro, as part of América Móvil's Latin American telecommunications network, gains a significant broadband player that strengthens its position in Brazil's internet services sector.

The sale reflects the maturation of Desktop's business model and the attractiveness of Brazil's internet market to major telecom operators. For HIG, the exit represents a successful investment cycle in the Brazilian technology sector, while Claro's acquisition aligns with América Móvil's strategy of expanding its broadband footprint across Latin America.