Paris, 30 october 2006 – Camélia Participations, a company controlled by funds managed by Apax Partners France including Altamir and Amboise Investissement, entered into an agreement with Mr. Alain Bernard, on 27 October 2006, for the acquisition of his 46,42% stake in Prosodie (at 30 September 2006), at a price of €20 per share. Prosodie is listed on Euronext Paris (Eurolist C - code ISIN FR000415203).
The closing of this transaction is contingent upon approval by the French competition authorities (DGCCRF).
Following the approval and subsequent acquisition of the block, Camélia Participations will file with the Autorité des Marchés Financiers (AMF) a tender offer for all the Prosodie shares it does not own, as set forth by market regulations. This offer is expected to be filed before the end of the year.
PROSODIE is a telecommunications operator which develops and provides telecommunications services and IT solutions that allow customers, clients, partners and/or employees of public and private organizations to access and exchange information.
Prosodie's services and solutions aim at improving performance in customer relations (telephone reception, interactive voice servers, automated call centres, …), optimizing marketing strategy (design and development of mobile services, eCommerce solutions, …), providing highly secure applications (management of payment cards, electronic voting, ID authentication, …), as well as hosting and management of communications applications and infrastructure services with high value added.
Prosodie also produces and delivers information to the general public in three areas: weather forecasts through METEO CONSULT and LA CHAINE METEO (TV channel), horse racing through GENYcourses and exam results through France-examen.
With a presence in France, Spain, USA and Canada, Prosodie had 2005 IFRS consolidated revenues of €147.1 m up 6.2% over 2004 (€138.5m) and 2005 operating income of €11.5 m up to 52.3% over 2004 (€7.5m).
Eddie Misrahi, Partner at Apax Partners said: "We are delighted to partner again with Prosodie and team up with Georges Croix, Nicolas Dourassoff and André Saint-Mleux to continue growing this leading-edge company. We are familiar with Prosodie, having already participated in its 1997 buy-out from the Hersant family, then in its IPO a year later. Prosodie has demonstrated its ability to anticipate business needs and to develop value-added solutions. It has successfully addressed the challenges created by the advent of Voice-over-IP and voice recognition, as well as the management of multi-channel flows, which have strong growth potential.
The investment of Apax Partners France will be broken down as follows: 50% Apax France VII, 25% Altamir, 25% Amboise Investissement.
About Altamir and Amboise Investissement
Altamir and Amboise Investissement are two listed companies which were created by Apax Partners respectively in December 1995 and at the end of March 2006. Both are designed to co-invest and disinvest with the private equity investment funds managed by Apax Partners France.
Altamir and Amboise Investissement leverage Apax Partners' know how and investment strategy, which involves backing fast-growing companies, at all stages of investment (LBO, growth capital, venture capital), across its global sectors of IT & Telecoms, Media, Healthcare, Retail & Consumer and Business & Financial Services.
Altamir is a SCR (Société de Capital Risque) listed on the Euronext Paris Eurolist market, Compartment C, Ticker: LTA, ISIN: FR0000053837.
For further information: www.altamir.fr
Amboise Investissement is a SCR (Société de Capital Risque) listed on the Euronext Paris Eurolist market, Compartment C, Ticker: AMB, ISIN: FR0010307348.
For further information: www.amboise-investissement.fr
For further information, please contact:
Apax Partners SA
Tel: + 33 (0)1 53 65 01 35
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