Altice France to acquire Coriolis TelecomMonday, September 20th, 2021
Altice France entered into exclusivity agreement to acquire Coriolis Telecom
Altice France S.A. (“Altice France”) today announces it has entered into an exclusivity agreement to acquire 100% of Coriolis S.A. (“Coriolis”).
Coriolis is a French independent Telecom group, built over more than 30 years by French entrepreneur Pierre Bontemps. Through its brand Coriolis Telecom, it offers mobile and fixed Telecom services to more than 500 thousand customers in small and medium French cities and 30,000 companies. In addition, Coriolis has developed a customer relationship management division, Coriolis Service, serving both internal and third-party customers relying on four contact centers in France and abroad.
With this contemplated transaction, Altice France would 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. The total cash consideration would consist of an upfront purchase price of €298 million and a deferred consideration of €117 million.
The transaction would be subject to customary regulatory approvals and is expected to be completed in the first half of 2022.
Grégory 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 realize 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.”