The Carlyle Group has completed its acquisition of French digital set-top box maker Sagemcom from the Gores Group, Reuters reported this weekend. The firm now owns 70% of Sagemcom. Terms of the deal were not released.
(Reuters) – Private equity firm Carlyle Group said on Saturday it had finalised its acquisition of French digital set-top box maker Sagemcom from the Gores Group.
Carlyle said in a statement it now owned 70 percent of Sagemcom, while the company’s management and employees had the remaining 30 percent.
It did not disclose the financial terms of the deal.
Carlyle had been in exclusive talks since June with the Gores Group, also unlisted, about Sagemcom, which has more than 6,000 employees globally and posted sales of 1.4 billion euros ($2 billion) in 2010. ($1=0.694 Euros) (Reporting by Catherine Bremer; Editing by Mike Nesbit)