It’s official, CDG Capital Private Equity has sold its shares to Intelcia.

The venture capital and private equity branch of the CDG Group announced its successful exit on January 10, from the regional outsourcing company. The process to find another company to replace CDG Capital Private Equity took more than a year.

The winning bid comes from Altice, a multinational group operating in the field of telecommunications, content and media.

According to Karim Bernoussi, CEO of the Intelcia Group, the capital of CDG Capital Private Company has greatly contributed to the growth of Intelcia in Morocco and around the world and has strengthened the culture of corporate governance.

Hassan Laaziri, CEO of CDG Capital Private Equity explains that his group’s investment in Intelcia “shows how compatibility between visionary founders and private investment funds can be the key to a successful company.” He concludes by expressing his firm conviction that Intelcia will follow the same successful path with Altice Group.

Under CDG Capital Private Equity, Intelcia increased its annual turnover from 19 million euros in 2010 to the approximately 120 million euros estimated for 2016, mainly through acquisitions.

With more than 7,000 employees, the company is now one of the top 7 francophone outsourcing companies serving prestigious clients such as SFR, Humanis, Google and Darty. It currently operates in Morocco, France, Cameroon and Senegal.

Source :Morocco World News