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 half.
This acquisition allows Eiffage nergie Systmes to enter the strong growth market of mobile telecommunications, driven by the development of 5G technologies, adds Eiffage in its press release, specifying thus completing its offer to players in industry and the tertiary sector.
Snef Telecom, whose parent company is based in Marseilles and has been present in telecommunications for more than 20 years, specializes 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 the equipment manufacturers Nokia, Huawei, Ericsson and Cisco as well as Auchan, Ikea, the National Gendarmerie and many local authorities.
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Eiffage’s Energy Systems division designs, operates and maintains systems and equipment in electrical, industrial, HVAC and energy engineering 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.