French transmitter company TDF has signed an agreement to acquire its competitor Itas for an unconfirmed amount probably exceeding EUR100 million.
The completion of the transaction is subject to conditions precedent, but it is expected to close before the end of the year, after the usual regulatory approval. TDF was facing competition from the Spanish tower company Cellnex and Infravia Capital, a French fund specialising in infrastructure.
With this acquisition, TDF gets rid of a troublesome competitor and will become a more dominant player. Itas was launched in 2008 by entrepreneur Gilles Bastard, who started in the business of antennas and telecommunications equipment in the late 80s, the group’s mission was to boost the market by pricing at least 30% lower than the incumbent (TDF).
Itas took an important step by acquiring in late 2014 OneCast, a subsidiary of private broadcaster TF1, specialising in broadcasting a digital terrestrial television multiplex (TNT). OneCast was founded in 2001, also to compete TDF.
When the acquisition of Itas is completed, there will only be one competitor left for TDF, Towercast, a subsidiary of NRJ Group.
