The French construction giant Eiffage announced on Friday that it had reached an agreement with the engineering group Snef to acquire 70% of its subsidiary Snef Telecom, which is to complete the offer of its "Energy Systems" division.
The amount of the acquisition is not specified but Snef Telecom achieved a turnover of 200 million euros in 2021 and employs around 1.000 people in France, according to a press release.
The operation should be finalized during the second semester.
"This acquisition allows Eiffage Énergie Systèmes to enter the fast-growing mobile telecommunications market, driven by the development of 5G technologies", adds Eiffage in its press release, specifying thus completing its offer to industry players and the tertiary.
Snef Telecom, whose parent company is based in Marseille and has been present for "more than 20 years" in telecommunications, is a specialist in the engineering, deployment, maintenance and operation of fixed and mobile networks.
According to its website, it counts the main French operators (Bouygues, Free, Orange, SFR) among its customers, as well as equipment manufacturers Nokia, Huawei, Ericsson and Cisco as well as Auchan, Ikea, the National Gendarmerie and many communities.
Eiffage's Energy Systems division designs, operates and maintains electrical, industrial, HVAC and energy engineering systems and equipment for the industry, infrastructure and network, cities and communities and tertiary markets. It achieved a turnover of 4,8 billion euros in 2021.
The group as a whole recorded a turnover of 18,72 billion euros and a net profit of 777 million euros in 2021.
