As part of its strategy of refocusing on its core streaming TV activity for telecom operators (B2B2C), Netgem has reached an agreement with Nordnet to sell its consumer fibre operator business in France to a subsidiary of the Orange group.
Netgem noted that 2022turnover and gross margin of the business sold amounted to €4.7 million and €1.4 million respectively. The sale, subject to certain usual conditions being met should be completed during the first half of 2023 and is forecast to have a positive cash impact of around €3 million, the use of which will be revealed at a later date.
Following the news of the deal, Netgem assured that it would continue to provide its netgem.tv television service to Nordnet for all ceded subscribers.
“As we announced on 1 February, this operation is directly in line with the execution of our strategy to refocus on our core business,” said Netgem CEO Mathias Hautefort explaining the move. “I would like to take this opportunity to thank the Banque des Territoires and Réunicable, which have supported our development in France.”
In the UK, Netgem has already signed more than 15 partnership agreements with fibre providers in the UK offering TV and streaming services to a reach of over a quarter of a million of the UK homes complementing their access to gigabit enabled fibre broadband.
Following the news of the deal, Netgem assured that it would continue to provide its netgem.tv television service to Nordnet for all ceded subscribers.
“As we announced on 1 February, this operation is directly in line with the execution of our strategy to refocus on our core business,” said Netgem CEO Mathias Hautefort explaining the move. “I would like to take this opportunity to thank the Banque des Territoires and Réunicable, which have supported our development in France.”
In the UK, Netgem has already signed more than 15 partnership agreements with fibre providers in the UK offering TV and streaming services to a reach of over a quarter of a million of the UK homes complementing their access to gigabit enabled fibre broadband.
