US-based electronic payments provider Euronet Worldwide, has completed the acquisition of Brazilian electronic prepaid products distributor Telecom Net, operating under the trade name Ativi.

Euronet bought Ativi from a group of private equity investors, including Darby Technology Ventures, Intel Capital and Mifactory Fondo de Inversion Privado. The acquisition is expected to provide opportunities for epay, a division of Euronet, to expand its portfolio of global prepaid products in Brazil and South America.

Ativi distributes electronic prepaid products and bill payment services via a network of over 14,000 retail locations throughout Brazil. According to the Brazilian agency of communications Anatel, Brazil’s prepaid mobile subscriber base is expected to grow 45 percent by 2013. The agency also estimates that 40 percent of Brazil’s population is currently unbanked.