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NOS Portugal

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NOS is a Portuguese telecommunications and media company who provides mobile and fixed telephony, cable television, satellite television and internet

Lisbon, PortugalFounded 1994eCommerce & Marketplaces
Valuation $2.92B Market cap · 2026
Revenue $2.04B Latest reported FY
EBITDA $904M Latest reported FY

About NOS Portugal

The story of NOS is not one of a single founder but of a strategic union between two established Portuguese telecom players. The company as it exists today was formed in 2013 through the merger of ZON Multimédia and Optimus Telecommunications. This wasn't a startup story, but a calculated move to consolidate and create a powerhouse in the national telecommunications market. ZON had its roots in Portugal Telecom, the state's former telecom monopoly. In 2007, PT spun off its multimedia division, which included the cable TV service TV Cabo, creating ZON Multimédia. Optimus, on the other hand, was the mobile operator belonging to the Sonae conglomerate, which entered the market in 1998. The game-changing event was the 2013 merger, driven by major shareholders Sonaecom and Isabel dos Santos. The fusion created ZON Optimus, a company with a comprehensive portfolio combining ZON's strength in cable television and internet with Optimus's mobile network. This move was designed to compete more effectively with market leader Portugal Telecom. In October 2013, Optimus's CEO, Miguel Almeida, was appointed to lead the new entity. In May 2014, the company underwent a major rebranding, shedding the ZON and Optimus names to become a single, unified brand: NOS. The name, meaning "we" or "us" in Portuguese, signaled a new chapter focused on integrated services. Today, NOS stands as a major force in Portugal, offering a full suite of services from mobile and fixed-line telephone to television and internet.

Source: Dealroom company data

At a glance

Status
Listed
Founded
1994
Headquarters
Lisbon, Portugal
Listing
IPO 2000
Employees
4,015
Open positions
13
Dealroom signal
71.7/100
Industry
Media, Telecom
Sector
eCommerce & Marketplaces, Data Centers, Horizon Europe
Business model
Marketplace & ecommerce
Client focus
b2b, b2c
Investment activity
5 companies, latest Dec 2025
Capital deployed
$9.7M
Preferred round
EARLY VC

Funding history

6 recorded events

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
POST IPO DEBT✓Debt Sep 2026 $418M — Banco Comercial Português · BPI · Caixa Geral de Depósitos ↗
POST IPO DEBT✓Debt Mar 2025 $110M — Banco Comercial Português · BBVA · Caixa Geral de Depósitos ↗
Showing the latest 2 of 6 recorded eventsBook a demo for the full funding history →

Financials

Revenue, earnings and profit over time

Revenue, earnings and other financial measures where available. Years marked “E” are estimates.

YearRevenueGrowthEBITDAMarginProfitMargin
2026 $2B +1.6% $904M 44.3% $250M 12.3%
2025 $2B +7.5% $895M 44.6% $270M 13.5%
2024 $1.9B +6.1% $848M 45.5% $299M 16.1%
2023 $1.8B +5.1% $788M 44.8%
2022 $1.7B +6.4% $716M 42.8%
2021 $1.6B +4.5% $680M 43.2%
2020 $1.5B — $663M 44.1%
Company filings, research estimates and Dealroom dataBook a demo for the full financial model →

Growth signals

NOS Portugal website traffic

Latest recorded traffic for NOS Portugal is 4.5M monthly website visits, up 25% over the last three months. NOS Portugal's team grew 22.2% over the past year.

Latest monthly visits4.5M 3-month web change+25% 1-year team growth+22.2%
Summary metrics are public; monthly history is available with a demoCompare with peers →

Similar companies

Closest operating peers by Dealroom taxonomy

Company identity and context are open; selected comparison metrics preview what is available on the platform.

Showing 8 of the closest matchesCompare every metric →

Investors

6 investors on the cap table

From Dealroom's funding and investor records, grouped by the round each investor first entered.

Series B and later6 investors entered at this stage

  • Sonaecom
  • Banco Comercial Português
  • BPI
  • Caixa Capital
  • BBVA
  • Caixa Geral de Depósitos
Team profiled 101 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Global footprint

Workforce and web traffic by country
Workforce by country
🇵🇹 Portugal · Lisbon HQ
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Market sentiment

Posts on X, past 7 days

An AI-synthesised read of the highest-engagement posts about NOS Portugal on X, ranked by likes and reposts, corporate channels excluded.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

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