The PennZone

PARIS - PennZone -- Vantiva (Euronext Paris: VANTI), a global technology leader enabling Network Service Providers to connect consumers worldwide, announces its plans to sell its Supply Chain Solutions (SCS) division to funds managed by private equity firm, Variant Equity, by entering into a Put Option Agreement.

After a competitive and impartial selection process, the Board of Directors has chosen Variant Equity as the best partner to support SCS's future and ensure alignment with the company's corporate interests.

The transaction is based on an SCS valuation of $40 million, subject to the usual adjustments, including a working capital adjustment at closing.

In accordance with IFRS 5, SCS will be classified as discontinued operations in Vantiva's Fiscal Year 2024 accounts. Vantiva will also record a necessary asset impairment, and its valuation process is currently underway.

The group's 2024 guidance remains unchanged. However, for ongoing activities, they are as follows: EBITDA exceeding €100 million and a positive free cash flow after financial expenses and taxes and before restructuring and integration costs related to the CommScope Home Networks acquisition.

"We are very pleased with the prospect of selling SCS to Variant. Given their focus on corporate divestitures and previous industry experience, we believe they are the best-suited partner for moving the business forward," said Tim O'Loughlin, CEO of Vantiva, "I am excited about SCS's future with Variant."

Farhaad Wadia, Managing Partner of Variant Equity, also expressed enthusiasm for the prospect of SCS joining Variant as a stand-alone portfolio company, stating, "Over the years, SCS has developed valuable customer relationships, a comprehensive set of capabilities and a robust global infrastructure. We look forward to partnering with the SCS team to unlock continued growth and capitalize on the business that has been built under Vantiva's ownership."

Rob Wipper, President of Supply Chain Solutions, added, "We're excited about the prospect of joining the Variant portfolio. As a stand-alone company, SCS can accelerate diversification strategies, including expanding our precision manufacturing and third-party logistics services, while maintaining our focus on the production and distribution of physical media content."

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The pending sale of SCS demonstrates Vantiva's commitment to innovation and is the next step in implementing a more customer centric strategy.  Whereas earlier acquisitions, such as the January 2024 acquisition of Home Networks, strengthened Vantiva's portfolio of assets and expertise, the pending sale of SCS will now allow Vantiva to concentrate on optimizing those assets and expertise to deliver cutting-edge solutions to customers in the video, broadband, and related technology spaces.

The transaction, in which Moelis & Company LLC is serving as exclusive financial advisor to Vantiva, is contingent on Vantiva's exercise of the Put Option to enter into a binding Equity Purchase Agreement, pending the completion of consultation processes with Vantiva's Works Council, along with other typical and customary conditions. Both parties are confident of a positive outcome in the coming weeks.

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Warning: Forward Looking Statements
This press release contains certain statements that constitute "forward-looking statements", including but not limited to statements that are predictions of or indicate future events, trends, plans or objectives, based on certain assumptions or which do not directly relate to historical or current facts. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted, or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Vantiva's filings with the French Autorité des marchés financiers (AMF). The Universal Registration Document (Document d'enregistrement universel) for fiscal year 2023 was filed with the Autorité des marchés financiers on April 30, 2024, under no. D.24-0375.

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About Vantiva

Pushing the Edge
Vantiva shares are admitted to trading on the regulated market of Euronext Paris (VANTI).

Vantiva, formerly known as Technicolor, is headquartered in Paris, France. It is an independent company which is a global technology leader in designing, developing and supplying innovative products and solutions that connect consumers around the world to the content and services they love – whether at home, at work or in other smart spaces. Vantiva has also earned a solid reputation for optimizing supply chain performance by leveraging its decades-long expertise in high-precision manufacturing, logistics, fulfillment and distribution. With operations throughout the Americas, Asia Pacific and EMEA, Vantiva is recognized as a strategic partner by leading firms across various vertical industries, including network service providers, software companies and video game creators for over 25 years. The group's relationships with the film and entertainment industry goes back over 100 years by providing end-to-end solutions for its clients.

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Following the acquisition of CommScope's Home Networks in January 2024, Vantiva continues its 130-year legacy as a global leader in the connected home market.

Vantiva is committed to the highest standards of corporate social responsibility and sustainability across all aspects of their operations.

For more information, please visit vantiva.com and follow Vantiva on LinkedIn and X (Twitter).

Contacts

Vantiva Press Relations
press.relations@vantiva.com

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vantiva.press@image7.fr

Vantiva Investor Relations
investor.relations@vantiva.com

About Variant Equity
Founded in 2017, Variant Equity is a Los Angeles based private equity firm that makes control investments in corporate divestiture and similarly operationally intensive transactions across a wide range of industries including transportation and logistics, technology and business services. The firm's investment approach focuses on businesses it believes are best suited to reach their full potential as stand-alone enterprises through the deployment of Variant's operations and technology resources. For more information, visit variantequity.com.