Infinite partners and the PIC announce strategic acquisition of a strategic interest in three fibre network operators

Infinite Partners, a South African-based private equity fund manager, and the PIC are pleased to announce the acquisition of a strategic interest in three fibre network operators: Net Nine Nine, Evotel, and LinkLayer.

These businesses have now been consolidated into a single holding company, Fibre Holdco, dedicated to expand reliable and affordable fibre connectivity primarily to historically underserved communities, including townships and rural mining towns across South Africa.

About the Fibre Network Operators

Net Nine Nine: founded by Albert Oosthuysen and the core management team in 2020, Net Nine Nine is a fast-growing fibre network operator providing high-quality internet connectivity lower-income households nationally. The business has pioneered fibre network expansion in townships by offering unlimited, reliable, and cost effective bandwidth, Net Nine Nine is unlocking opportunities for students, entrepreneurs, and businesses in these communities to thrive in an increasingly digital world.

Evotel: a trusted fibre network provider, that focuses on middle-income suburbs, secondary cities, rural areas, and mining towns. By servicing mainly secondary cities, typically overlooked by major fibre operators, Evotel ensures uninterrupted, premium internet access in regions where connectivity is a vital enabler of education, e-commerce, and economic activity. Known for its transparent and responsive customer service, the company is committed to delivering a reliable and stable internet experience.

LinkLayer: offers fibre connectivity in KwaZulu-Natal and has similarly built a reputation for providing dependable, high-quality internet to households in the region.

Closing the Digital Divide

Together, these businesses represent a transformative opportunity to address South Africa’s digital divide. The acquisition is set to unify Net Nine Nine, Evotel, and LinkLayer, creating a powerful platform for collaboration and operational synergies. This consolidation will drive greater impact, enabling the expansion of affordable fibre access to communities across the income spectrum and supporting the development of infrastructure in areas where digital connectivity has lagged. By addressing the growing demand for reliable connectivity—which fuels entertainment, education, e-commerce, and gig work—the unified Fibre Holdco aims unlock significant social and economic benefits

Infinite Partners is proud to invest in Fibre Holdco. The firm’s commitment to deploying private equity into impactful sectors is evident in this transaction, which not only seeks financial returns but also supports the equitable growth of South Africa’s digital economy. Fibre Holdco will focus on expanding access to broadband services to over 1.5 million homes in South Africa, targeting underserved lower- to middle-income residential markets. This effort will also bolster local economies by engaging SMMEs for network building, maintenance, and sales efforts—creating fair-paying jobs and supporting economic inclusion. Other shareholders within Fibre Holdco include; Management, Myriad Capital and the KLT who have been instrumental in the underlying assets’ growth trajectory.

Edward Pitsi, Co-Founder and Chief Executive Officer of Infinite Partners, said: “This investment represents a significant step in the development of our new fund’s portfolio. Fibre Holdco will be the second portfolio company in our Fund II programme. It is a transaction that neatly marries our goal of investing in sectors supported by structural tailwinds whilst also delivering against our sustainable impact goals. As a firm, we are looking forward to partnering with Albert Oosthuysen, Chief Executive Officer of the new Fibre Holdco, and our fellow shareholders, KLT and Myriad Capital, as we support the business over the next exciting phase.”

Albert Oosthuysen said: “In Infinite Partners, we found a team that aligns with our principles a ambitions for the industry. We’ve had dynamic engagement from their team since the beginning and it’s clear they share our drive to bring connectivity to all of South Africa. We’re excited to be working alongside Edward Pitsi and his team in changing the country for the better.”

Naomi Nethengwe, Principal of Infinite Partners, said: “The investment into Net Nine Nine Evotel, and LinkLayer is representative of our investment philosophy. We have seen how these assets have evolved over the years while delivering substantial growth and value in the markets they operate in. We envisage that under our ownership, this growth will continue, with increased focus on underserved communities across South Africa.”

Kabelo Rikhotso, Chief Investment Officer at the PIC said: “We are proud to partner with Infinite Partners to invest in Fibre Holdco, a venture that underscores our commitment to driving digital inclusion in South Africa. This investment enables the expansion of affordable fibre access to communities across all income levels, while supporting the development of infrastructure in areas where digital connectivity has historically lagged behind. It reflects the PIC’s dedication to delivering meaningful social impact alongside sustainable financial returns

About Infinite Partners

Infinite Partners is an African private equity fund manager focused on mid-market investments across sub-Saharan Africa. The firm invests across varying sectors of the economy and partners with management teams to drive growth, operational improvements, and strategic direction, with a commitment to sustainability and value creation.

About Public Investment Corporation (PIC)

The PIC SOC Ltd is a South African state-owned company, responsible for managing public sector pension, provident and social security funds. The PIC invests in listed and unlisted asset classes in South Africa, the rest of Africa, emerging and developed markets economies.