France Telecom/Orange has sold off its financial infrastructure business, Orange Business Services - Trading Solutions division to the Gores Group. And it won't have that long, derived name anymore either, as the division will be rebranded as Etrali Trading Solutions.
Etrali and its 450 employees worldwide will continue to be headquartered in Paris (no surprise) led by its current CEO Lionel Grosclaude. Gores has a long history of buying internet infrastructure assets, and this one's focus on the financial vertical gives them an even greater attachment potential I'm sure.
The company operates an MPLS-based voice and data network focused tightly on the needs of traders worldwide, with lots of low latency interests of course. As FT/Orange itself has been under pressure for years, life as an independent with a deep-pocketed majority shareholder will probably be a bit easier for Entrali.
Financial terms were not disclosed, at least that I've managed to find so far. France Telecom/Orange, by the way, will soon simply be Orange after a long-awaited rebranding finally takes effect on July 1.
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