France unquote" September 2011

]Apax France had almost recouped its original investment in Vizada when Hutton Collins acquired a stake in the business last year. In conjunction with this earlier partial exit, the sale to EADS enabled Apax France to reap an overall money multiple and IRR exceeding 4x and 40% respectively.

This is the third exit in the telecom sector for Apax France in the past two months: the firm reaped a 3.2x multiple on the €382m trade sale of Prosodie and sold its 52.3% stake in Outremer Telecom to AXA Private Equity for €133m.

In the September 2011 issue of France unquote":

* Q&A: The state of fundraising
* Mid-market up a third year-on-year
* And more...

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