Altice N.V. (ENXTAM:ATC) along with senior management of Teads, including Pierre Chappaz and Bertrand Quesada entered into an agreement to acquire Teads S.A. from its senior management team and other shareholders at an enterprise value of approximately €290 million on a cash and debt free basis on March 21, 2017. The acquisition purchase price is subject to Teads achieving certain revenue targets in 2017. 75% of the acquisition purchase price will be due at closing. The remaining 25% earn-out is subject to Teads 2017 revenue performance and will become payable in early 2018. Teads had revenues of €189 million in 2016. The senior management of Teads, including Executive Chairman Pierre Chappaz and Chief Executive Officer Bertrand Quesada, will continue to lead the business going forward and have agreed to reinvest a significant portion of their proceeds. Pierre Chappaz will join Altice's Management Board responsible for all of its advertising activities. The acquisition is subject to certain competition reviews and regulatory approvals and is expected to close in middle of 2017. The acquisition is immediately accretive to Altice's operating free cash flow before taking into account the expected synergies and strategic benefits of the transaction.

Laurent Borey and Olivier Aubouin of Mayer Brown France acted as legal advisors to Altice N.V. Xavier Norlain and Matthieu Lampel of DLA Piper France and Saam Golshani, Benjamin Cichostepski, Guillaume Vitrich, Barbara Jouffa, Lara Kerouedan, Nour Ksibi, Nicolas Jacquot, Patrick Hubert, Lise Damelet, Chek-Lhy Luu, Patricia Ziegler and Yoann Chemama of Orrick Rambaud Martel acted as legal advisors to of Bpifrance, Partech Ventures, Elaia Partners, Lightspeed Venture Partners and Gimv. Arsène Taxand acted as legal advisor to Teads. Cyril Stivala, Jawad Bencheqroun, Benoît Dambre, Benjamin Gohet, Jérôme Gertler, Isabelle de La Gorce, Véronique Child and Florence Théodose of Deloitte & Touche Corporate Finance France acted as financial advisor to Altice in the transaction. Nicolas Jacquot of Arsene Taxand acted as accountant for the sellers in the transaction. Eric Sublon, Selim Souissi and Yann Spiegelhalter of Luther acted as legal advisor to Altice N.V.