Vantiva Finalizes the Acquisition of CommScope's Home Networks Business
10 January 2024 - 3:04AM
Vantiva Finalizes the Acquisition of CommScope's Home Networks
Business
Press Release
Vantiva Finalizes the Acquisition
ofCommScope's Home Networks Business
This operation strengthens Vantiva’s leadership
positionin the global connected home market
Paris – January 9, 2024 – Vantiva (Euronext Paris:
VANTI), a global technology leader enabling Network Service
Providers (NSPs) to connect consumers worldwide, today announced
the completion of the acquisition of CommScope Home
Networks.
Vantiva's acquisition of CommScope's Home Networks division
marks a genuine dimension change for the company. The union of
these two major players in the connected home market will enable
Vantiva to enhance the group's profitability, significantly broaden
its client portfolio, and consolidate its capacity for innovation,
reinforcing Vantiva's presence in the global Customer Premises
Equipment (CPE) market.
“This acquisition is a key milestone in the group's development.
It builds on everything we have achieved over the past year. I
would like to thank all our employees for their commitment and
dedication, and I welcome our new colleagues from CommScope, whom
we look forward to working with. The integration of the Home
Networks division will also benefit our customers by speeding up
our innovations, increasing our supply and service capacity, and
enabling us to serve new geographies,” stated Luis Martinez-Amago,
CEO of Vantiva.
“We are very pleased to complete this transaction and become a
shareholder in Vantiva. We are confident that this combination will
allow Vantiva to continue to grow and become an industry leader,”
commented Chuck Treadway, CEO of CommScope.
Vantiva is also pleased to announce new appointments to the
company's Board of Directors: CommScope Holding Company, Inc. as
Director, represented by Krista Bowen, and Angelo, Gordon & Co.
L.P. as Director.
Vantiva's acquisition of CommScope's Home Networks division was
remunerated by a 25% stake in Vantiva's fully-diluted capital from
the reserved capital increase authorized by the Combined General
Meeting of December 19, 2023. Additionally, CommScope could receive
an earn-out payment of a maximum cumulative of 100 million dollars,
subject to Vantiva (at post-acquisition scope) achieving an EBITDA
equal to or greater than 400 million euros in a given fiscal year,
within the five years following the first fiscal year after the
conclusion of the acquisition.
About Vantiva
Pushing the Edge
Vantiva shares are admitted to trading on the regulated market
of Euronext Paris (VANTI).
Vantiva, formerly known as Technicolor, is headquartered in
Paris, France. It is an independent company which is a global
technology leader in designing, developing and supplying innovative
products and solutions that connect consumers around the world to
the content and services they love – whether at home, at work or in
other smart spaces. Vantiva has also earned a solid reputation for
optimizing supply chain performance by leveraging its decades-long
expertise in high-precision manufacturing, logistics, fulfillment
and distribution. With operations throughout the Americas, Asia
Pacific and EMEA, Vantiva is recognized as a strategic partner by
leading firms across various vertical industries, including network
service providers, software companies and video game creators for
over 25 years. The group’s relationships with the film and
entertainment industry goes back over 100 years by providing
end-to-end solutions for its clients.
Following the acquisition of CommScope’s Home Networks in
January 2024, Vantiva continues its 130-year legacy as a global
leader in the connected home market.
Vantiva is committed to the highest standards of corporate
social responsibility and sustainability across all aspects of
their operations.
For more information, please visit vantiva.com and follow
Vantiva on LinkedIn and Twitter.
Contacts
Vantiva Press
Relations Thatcher+Co.
for
Vantivapress.relations@vantiva.com vantiva@thatcherandco.com
- 2024-01-09 PR-Vantiva-acquires-commscope-home-networks-EN
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