Proximus spends €569m on full ownership of BICS

Proximus spends €569m on full ownership of BICS

Acquistion NEW.jpeg

International communications provider BICS has announced that Proximus acquired MTN and Swisscom’s shares in the company for a transaction value of €569 million.

The acquisition makes Proximus the sole shareholder of BICS and TeleSign. BICS said it will now be able to accelerate its growth plans through a combination of investments in key domains.

Proximus said that the best way to execute upon its plans and have the necessary flexibility to create long-term value for BICS and TeleSign was to acquire 100% ownership of BICS. MTN and Swisscom will remain commercial partners of BICS.

“Having served on the BICS Board of Directors since 2011, I have seen first-hand the impressive track record of diversification and growth of BICS,” said Matteo Gatta, BICS CEO.

“With the support of Proximus, we will accelerate this trajectory. Thanks to our scale we are best positioned for the inevitable international voice market consolidation while pursuing opportunities to strengthen our core mobility services.

“In addition, we are increasingly exposed to the fast-paced digital transformation, thanks to our best-in-class Cloud Communications, IoT, and All-In Roaming solutions which build upon BICS’ extensive network reach.

“With Proximus on our side, we are committed to long-term value creation for BICS and to the success of our customers.”

TeleSign specialises in authentication and digital identity services to the world’s largest internet brands and cloud-native businesses.

With the recent appointment of Joseph Burton as CEO, TeleSign plans to focus on accelerating its growth and leveraging its technology.

“I am excited to conclude this agreement, allowing us to retain a growth engine within the Group and maintain full control over the globally renowned assets of BICS,” added Guillaume Boutin, CEO of the Proximus Group.

“I am convinced we can unlock the next growth phase of BICS and leverage BICS’ potential to consolidate a scattered market while continuing to invest in key growth areas. Furthermore, we want to support TeleSign’s fast growth as a digital leader in programmable communications and digital identity services.

“I have full confidence in the capacity of Matteo Gatta and Joe Burton, as recently appointed CEOs of BICS and TeleSign, to guide this acceleration and ensure a bright future for both entities.”

Perella Weinberg Partners (financial) & Linklaters (legal) have advised Proximus.

Gift this article