Information Technology is set to become the core growth driver for NOS in the coming years. CEO Miguel Almeida says the operator is accelerating its transformation into a tech-focused company — and new acquisitions in 2026 are firmly on the table.
“It will be a major driver of investment,” the CEO said during the presentation of annual results. The company reported profits of €245.9 million. Excluding the extraordinary effects linked to the sale of telecom towers to Cellnex in 2024, net income reached €241.5 million, up 29.3% year-on-year.
IT revenue up, EBITDA rising
NOS expects IT revenues to grow 10.9% by 2025, reinforcing the segment’s strategic relevance.
“Our plan is to continue strengthening this side of the business,” said Almeida, acknowledging that growth will come both organically and through acquisitions. “We want to grow in Information Technology through acquisitions, but right now we don’t have anything concrete. I wouldn’t be surprised if 2026 brings more news.”
The IT division delivered the strongest EBITDA growth across all business areas, rising 12.8% to €21 million.
Claranet and cybersecurity at the core
The transformation is already visible in the numbers. Claranet Portugal joined the group in January after a €152 million acquisition, contributing to the 2025 results.
In addition, NOS controls Ten Twenty One and Cyber Inspect. Altogether, these IT-focused companies employ 1,004 people and generated €167 million in revenue in the latest accounts.
“We are undergoing a transformation to become a tech company. Today we are a very different company,” Almeida stressed, highlighting a “comfortable and conservative balance sheet” that supports further investment.
Artificial intelligence is also part of the strategy, particularly in cost optimization and operational efficiency.
telecom remains the base business, but IT — cloud, cybersecurity, managed services — is where NOS sees its next growth cycle. If the right target appears, the acquisition button is ready to be pressed.
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