The French telco provider Altice France has entered into an exclusivity agreement to acquire 100% of Coriolis which is a French independent Telecom group, built over more than 30 years by French entrepreneur Pierre Bontemps. The total cash consideration would consist of an upfront purchase price of €298 million and a deferred consideration of €117 million.

Through its brand Coriolis Telecom, it offers mobile and fixed Telecom services to more than 500,000 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 complementary to its SFR and Intelcia divisions.