Altice France acquires Coriolis Télécom in €415m deal
Altice France has entered into an exclusivity agreement to acquire French independent telecom group Coriolis Télécom.
Coriolis Télécom offers mobile and fixed Telecom services to more than 500,000 customers in small and medium French cities and 30,000 companies. The company was founded over 30 years ago by French entrepreneur Pierre Bontemps and serves both internal and third-party customers relying on four contact centres in France and abroad.
The deal will consist of an upfront purchase price of €298 million and a deferred sum of €117 million. The transaction is subject to customary regulatory approvals and is expected to be completed in the first half of 2022.
With the completion of the deal, Altice France says it will bring onboard the existing expertise partnerships, well-established distribution network, B2C and B2B customer bases and customer care capabilities of Coriolis, which are highly complementary to its SFR and Intelcia divisions.
Gregory Rabuel, chairman and CEO of Altice France said: “Coriolis is a great, fast-growing, company with a customer proposition that would be highly complementary to SFR.
“We look forward to bringing onboard the significant experience and expertise of the entire team of Coriolis to Altice France and working together to further improve our customer proposition and to realise in full the excellent growth prospects of Coriolis.
“We are very proud to have Pierre Bontemps, founder of Coriolis, who would continue this impressive and entrepreneurial adventure together with us.”