Vantiva S.A. (ENXTPA:VANTI) entered into an agreement to acquire Home Networks business of CommScope Holding Company, Inc. from CommScope Holding Company, Inc. (NasdaqGS:COMM) on October 3, 2023. Under the terms of the transaction, CommScope Holding Company, Inc. would receive: A stake in Vantiva at closing, representing a 25% stake on a fully diluted basis, through a share capital increase reserved to CommScope as consideration for the Home Networks business being transferred to Vantiva; A maximum cumulative earnout of $100 million in cash contingent upon Vantiva (at constant scope) achieving an EBITDA equal or exceeding ?400 million in a given fiscal year over the 5 years following the first full year after closing. Maximum payment in a year would be $50 million.

In the last twelve months ending June 2023, CommScope Home Networks and Vantiva?s Connected Home generated $1.5 billion and ?2.0 billion in sales, respectively. The transaction is subject to the receipt of required regulatory approvals and approval by Vantiva shareholders. The transaction has been approved by the board of Vantiva, in which main shareholders (Angelo Gordon, Bain Capital and Bpifrance) are represented, and supported by Briarwood the largest shareholder not part of the Board.

The transaction would be expected to be completed late Q4 2023. Evercore is acting as financial advisor to CommScope. Alston & Bird and De Pardieu Brocas Maffei are acting as legal advisors to CommScope.

d?Angelin & Co. is acting as financial advisor to Vantiva. Bryan Cave Leighton Paisner is acting as legal advisor to Vantiva.

Faegre Drinker Biddle & Reath is acting as legal antitrust advisor to Vantiva.