Private equity group Carlyle confirmed it's in exclusive talks to acquire French STB manufacturer Sagemcom from Gores Group. The company is discussing a deal to buy 70 percent of Sagemcom, with the French firm's management and employees owning the remainder. Carlyle did not disclose any financial terms of the negotiations. Earlier reports in the French press suggested it bid less than EUR 500 million and Les Echos wrote the day after the announcement that the transaction was worth around EUR 400 million, according to its sources. Sagemcom makes set-top boxes, home gateways and electricity meters, as well as other telecommunications products. With more than 6,000 employees worldwide, the company posted sales of EUR 1.4 billion in 2010. Gores acquired the group in early 2008 via a management buy-out from defence group Safran for EUR 383 million.
