Good morning, ladies and gentlemen. At this time, we would like to welcome everyone to Positivo Tecnologia's Q4 2019 earnings conference call. Today we have with us Paulo Junqueira, Vice President of Finance and Investor Relations. We would like to inform you that you will be in a listen-only mode during the company's presentation. After Positivo Tecnologia's remarks are completed, there will be a question- and- answer session. At that time, further instructions will be given. If any participant needs assistance during the call, please press star and zero to reach an operator.
We have simultaneous webcast that may be accessed through the company's website, ir.positivotecnologia.com.br and MZiQ platform. The slide presentation may be downloaded from this website. Please feel free to flip through the slides during the conference call. Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of the Private Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of Positivo Tecnologia's management and on information currently available to the company.
They involve risks, uncertainties, and assumptions because they relate to future events and therefore depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Positivo Tecnologia and could cause results to differ materially from those expressed in such forward-looking statements. Now I'll turn the call over to Mr. Paulo Junqueira, Positivo Tecnologia's Financial and Investor Relations Officer. Mr. Junqueira, you may begin the conference.
Thank you. Good morning. We are very happy to report net income of BRL 20.8 million in 2019, and a BRL 5.3 million net income in the quarter. An adjusted EBITDA of BRL 144 million in the year, and of BRL 36 million in the quarter. Also a growth on the EBITDA margin of 1.5 points, reaching 7.5% of EBITDA margin. Our initiatives that started two years ago to transform the company's future are starting to show results. Our HaaS, Positivo-as-a-S ervice unit that rents computers, recorded a growth of nearly 100% in 2019.
Our unit of servers, Accept, that we acquired in late 2018, reached a revenue of BRL 221 million, a growth of 36% compared to 2018. Our educational technology business has growth in gross revenue 35%, reaching nearly BRL 50 million. Also we have launched our IoT solution, Positivo Casa Inteligente, very successfully in last year, and market demand and response has been very good so far. Also, we believe that the market will grow in our core business due to a pent-up demand that is very clear to us, and we will demonstrate that in the upcoming slides.
Market of computers grew 9.1% in the fourth quarter, and 2.8% in the year comparing to last year. The mobile phones grew 18% in the last quarter, and 8.3% in the year. Also, late this year, on January, we have successfully completed a follow-on operation, funding BRL 353 million. The proceed will be used to finance the company's growth, both in public institution segment, which we have already good contracts to perform, and also to support the organic and inorganic growth of our growth drivers, including the ones that I have just mentioned, Positivo-as-a-Service, servers, educational technology, and IoT.
Moving to the next slide. PCs market, as I mentioned, grew 2.8% in 2019 and 9.1% in the fourth quarter, reaching 5.8 million units in 2019. The decrease in our market share is due to our strong financial discipline with the policy of minimum margins and conservative inventory planning, which led to an improve in sales margins in 2019. Looking back to our market share, it's not far from a range that we consider normal. Also, we are optimistic towards the future, already capturing consistent contracts in public institution in the last quarter of 2019.
Finally here, we have maintained our dominant position on PCs under BRL 1,200 with an 89% market share. Moving to the next slide. This slide demonstrates what happened to the PC market in Brazil, throughout the years. Brazilian PC market has a strong correlation with GDP. If you look at the figures in 2011 and 2016, the market have plummeted 72% from 15.9 million units in 2011 to 4.5 million units in 2016. As the economy recovers, the sales of PCs has been recovering so far. On the work scenario, the sales of PCs has been stable ever since 2016, in 260 million units, and has grown a little last year.
Public institution and corporate markets have already started to pick up demand, as we have predicted, with a strong Q4 and with good perspectives for 2020. Moving to the next slide. The cell phone market grew 8.3% in 2019 and 18.6% in the fourth quarter. Our market share has of 3.1% in the fourth quarter of 2019. Moving to the next slide. This is the future of Positivo. This is something that we are investing ever since two years ago.
As I mentioned, the results have started to show. Positivo-as-a-Service, IoT, our Positivo Casa Inteligente line, servers, and educational technology. Moving to the next slide. Positivo-as-a-Service, which is a business of computer and service providing to corporate customers, provides us higher margins and additional revenues with service and softwares. Its revenues grew 93% in 2019, reaching BRL 33 million. It has a very good synergy with our corporate sales channel. Moving to the next slide. Our server business unit, which is performed by a company that was acquired in December 2018, Accept.
Already integrated to Positivo. We spent a year integrating this unit, capturing scale gains and synergies with this company. It grew 36.5% this year, reaching BRL 221 million with very important customers and partners, and has also posted a very strong last quarter as it did in the previous year. So quarter grew 7.5%. Moving to the next slide. Our educational technology business posted a net revenue of BRL 40.9 million, gross revenue of BRL 47 million, as I demonstrated in the highlights, with a growth of 30% in net revenue.
Very significant. We have launched a few products such as Code, with very good perspectives for the upcoming years. Moving to financial highlights. Volumes. In thousands of units, due to our Minimum Margin Policy, we have presenting decrease in the retail, in volumes. In public institutions, also in the quarter, despite the decrease, we have growth in revenue. On cell phone sales, we have on the quarter, a growth of 15.7% in feature phones, and a growth on year of 10% on smartphones and 2.1% on feature phones.
Moving to the next slide. As I mentioned, the net revenues of public institutions channel grew 3.3%, and our total net revenue was higher off on 1.3% than in 2018, reaching BRL 1, 915,000,000 . And our sales margin also reached 11.2%, 2.5 basis points higher than the previous year. Moving to slide number 13. I highlight here the performance of our servers business unit that contributed to the share. It's demonstrated under others. As of the following earning calls, we will demonstrate that separately since we will have a comparison base on a quarter basis.
On average price, it has grew due to basically a higher proportion of sales to public biddings in desktops and also higher sales of volume of intermediate configuration of devices on notebooks. On cell phones, the drop is mainly due to a larger participation of feature phones, which has a lower price point. Moving to the next slide. Our adjusted gross margin year-over-year reached 24.9%, a growth of 1.8 points.
That's basically due to our policy of minimum margins and also the contribution of our growth avenues business, more specifically and specially, our servers business unit. The growth in D&A also captured part of this integration. Moving to the next slide. We reached net income of BRL 5.3 million, as I mentioned, an EBITDA margin of 7.5%, an EBITDA of BRL 144 million, and net income of BRL 20.8 million. Our net debt was of BRL 271 million with a 1.9x net debt EBITDA index. That'll be all. Thank you.
Ladies and gentlemen, at this time, we'll go to the question-and-answer session. Actually, we will end today's conference call. We do thank you for joining today's conference. You may now disconnect your line.