The Gores Group acquires Etrali, a subsidiary of France Telecom Orange
The Gores Group, a global investment firm, and France Telecom-Orange, a worldwide telecom operator, announced today that The Gores Group has completed the acquisition of Etrali, Orange Business Services – Trading Solutions, a subsidiary of France Telecom Orange. Following the acquisition the company will be rebranded as Etrali Trading Solutions.
Etrali Trading Solutions, a global company, headquartered in Paris, France, is a leading provider of voice and electronic trading infrastructure and services for the trading communities. These solutions bring additional value including regulatory compliance solutions incorporating fixed and mobile voice recording capabilities. Etrali Trading Solutions also owns and operates a global, state-of-the-art (MPLS) voice and data network dedicated to the trading industry.
“The Gores Group is very excited to be the new majority shareholder of Etrali Trading Solutions, alongside a talented management team. The Company has a rich history of creating innovative technology with a strong focus on customer service and we are confident that Etrali Trading Solutions will continue to capitalise on the growing voice and electronic related opportunities that exist with its customers. We look forward to partnering with Lionel Grosclaude and his team to help position the business as a standalone entity and accelerate its growth, both organically and through acquisitions,” said Jon Gimbel, Principal of The Gores Group.
Lionel Grosclaude, Chief Executive Officer of Etrali Trading Solutions stated, “This is an incredible opportunity for the Company to partner with Gores. Their exceptional track record and operationally focused approach will provide the support that Etrali Trading Solutions needs for continued growth and prosperity. Their ability to invest significant capital into the business will allow us to broaden our product portfolio and provide the increasing amount of services that our customers demand.”
France Telecom-Orange is one of the world’s leading telecommunications operators with sales of 43.5 billion euros in 2012 and has 170,000 employees worldwide at 31 March 2013, including 104 000 employees in France. Present in 32 countries, the Group has a total customer base close to 230 million customers at 31 March 2013, including 172 million mobile customers and 15 million broadband internet (ADSL, fibre) customers worldwide. Orange is one of the main European operators for mobile and broadband internet services and, under the brand Orange Business Services, is one of the world leaders in providing telecommunication services to multinational companies.
With its industrial project, “conquests 2015”, Orange is simultaneously addressing its employees, customers and shareholders, as well as the society in which the company operates, through a concrete set of action plans. These commitments are expressed through a new vision of human resources for employees; through the deployment of a network infrastructure upon which the Group will build its future growth; through the Group’s ambition to offer a superior customer experience thanks in particular to improved quality of service; and through the acceleration of international development.
France Telecom (NYSE:FTE) is listed on NYSE Euronext Paris (compartment A) and on the New York Stock Exchange.
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