Technicolor says its found an additional €30 in synergies following the acquisition of Cisco’s Connected Devices (set-top) business.
The French developer said it now expected synergies in excess of €130 million by 2018 versus initial guidance of €100 million.
Technicolor reported fourth quarter revenues of €1,154 million, a year on year increase of 15%, on the back of increased sales.
Frederic Rose, CEO, Technicolor, said. “In 2015, our teams closed successfully, and in parallel, a number of large acquisitions, while remaining focused on delivering a very strong free cash flow. Moving forward, Technicolor is a much more balanced company built on three leading Operating businesses and a core Licensing business underpinning our material upgrade of Drive 2020 objectives.”