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 provides voice and electronic trading infrastructure and services to companies engaged in the trading of financial products. Etrali products allow for fixed and mobile voice recording capabilities in order to meet financial regulatory requirements. The company also owns and operates a voice and data network dedicated to the trading industry. Etrali has more than 450 employees and is headquartered in Paris (www.orange-business.com/en/trading-solutions).
“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 capitalize 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.
The Gores Group makes control investments in non-core, underperforming or undervalued businesses in the United States and Europe. The firm maintains an in-house team of over 60 M&A and operations professionals in the US and Europe. The Gores Group was founded in 1987 and is headquartered in Los Angeles with additional offices in Boulder, CO and London (www.gores.com).
“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,” said Lionel Grosclaude, Chief Executive Officer of Etrali Trading Solutions.
France Telecom-Orange (NYSE:FTE) is one of the world’s largest telecommunications operators with sales of €43.5 billion in 2012. The company has a total customer base of 230 million customers including 172 million mobile customers and 15 million broadband internet customers worldwide (www.orange.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 6-2-13
