TPG acquires Trace from MTG in €40m deal

The deal values the business at €40m, according to a statement from MTG. Trace is part of MTG's international entertainment operations and specialises in afro-urban entertainment.

The remaining stake will be owned by the company's co-founder and management team. TPG invested via its TPG Growth fund, the latest vintage of which closed on $3.7bn in December 2017, alongside other backers Evolution Media and Satya Capital.

With the new capital, Trace plans to roll out its Trace Play streaming service globally.

MTG first invested in the media brand in 2014.

Company
Founded in 2003 and headquartered in Clichy, Paris, Trace is a multi-platform media and entertainment company with focus on afro-urban entertainment.

The firm owns and operates 30 digital and mobile services, 21 pay TV channels, and seven FM radio stations, with most of its operations based in sub-Saharan Africa. It reaches 200 million viewers and listeners across 160 countries, according to Trace.

People
TPG – Yemi Lalude (managing partner).
Trace – Olivier Laouchez (CEO).

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