Partners Group, one of the main global investment managers, has signed an agreement to acquire 75% of the share capital of Eolo, and will take over its share in the Italian telecommunications sector from Searchlight Capital Partners and Luca Spada, CEO and founder of Eolo, who will continue to hold 25% and hold the roles of CEO and president.
The overall value of the transaction seems to be around 1.5 billion euros. The acquisition is part of the plan to strengthen Eolo’s competitive position, which in recent days had already signed a Memorandum of Understanding with Tim for the start of a strategic partnership project in the “White Areas” of the country where Aeolus – a company active in the supply of ultrabroadband connectivity through Fixed wireless access (Fwa) technology – it will be able to supply Internet access services in wholesale mode to Tim.
The agreement leverages the ultra-broadband coverage of Eolo which already reaches over 6,500 Italian municipalities and 79% of the real estate units present in rural or low-density residential areas. The agreement also provides for the launch of a trial by October aimed at carrying out the appropriate analyzes and verifications in the field and defining the technical and operational procedures for the provision of Eolo’s wholesale services on the TIM network.
Luigi Gubitosi, CEO of Tim, commented: “We are very satisfied with the signing of this agreement which strengthens and consolidates the relationship with an important partner like Eolo. The agreement, in addition to confirming our commitment to want to be the engine of digitization process of the country, will also allow us to start testing, on a consortium basis, new ways of accessing Fwa services in the coming months, improving our ability to contribute to the objectives of the 1 Giga Italy Plan from the government strategy for the development of the ultra-broadband.
We are confident that thanks to partnerships of this magnitude we will further promote the spread of connectivity between citizens, businesses and the Public Administration, while at the same time supporting the development of the digital skills necessary for the growth of the country. “Luca Spada, president and founder of Eolo, has instead he said: “We are happy to extend the collaboration with Tim, our strategic partner for years for the supply of optical fiber to the Eolo backbone network.
The partnership with TIM represents an important step within the evolutionary plan of Eolo where the wholesale market will assume an increasingly central and strategic role for the offer of ultra-broadband services in the rural and sub-urban areas of the country. In fact, it is undeniable that Fwa has played a key role over the years in bridging the digital divide and, from a perspective perspective, it represents the only valid alternative to offer very high capacity services in all those areas where it is not technically or economically the creation of a wired fiber network is sustainable. It is for these reasons that we have decided to expand our wholesale offer also to consumer customers (B2C), leveraging the widespread diffusion of our network and the development of product and process innovation throughout the production chain “.