21 Oct 2010

French telecommunications and entertainment conglomerate Vivendi acquired French company Wengo.

Wengo formed in 2004 as a VoIP service provider before repositioning itself as an online personal and consulting services marketplace.

The transaction completed with Vivendi buying the 43 percent stake held by its SFR subsidiary, a holding inherited from SFR's takeover of Neuf Cegetel.

The remainder of equity belonged to Wengo's management and to the Ventech investment fund, which provided it with EUR 6 million in 2008. The purchase was made on the basis of a EUR 35 million valuation.