major contract in the Middle Eastern market. In this period the company diversified into several new sectors, leading to it manufacturing backend telephony equipment, semiconductors and medical imaging apparatus. By the early 1980s Thomson-CSF was in a weak financial position with a high level of debt. While it possessed a diversified portfolio of businesses, its market share within the majority of these many sectors was viewed as being too small to be realistically profitable despite increasing business from overseas buyers. During 1982, both Thomson-Brandt and Thomson-CSF were nationalised by France's Mitterrand government. As a consequence, Thomson-Brandt was renamed Thomson SA (Société Anonyme) and merged with Thomson-CSF. Throughout the 1980s, the company's financial position improved dramatically as undertook a major reorganisation, focusing its efforts on the production of electronics for professional and defence customers. In 1983, it divested Thomson-CSF Téléphone , its civil telecommunications division, to telecommunications specialist Alcatel. Four years later, its semiconductor interests were merged with those of the Italian defence group Finmeccanica. That same year, Thomson-CSF's medical imaging technology was exchanged with GE for GE's RCA and consumer electronics businesses. During the late 1980s, Thomson-CSF, anticipating future defence spending cutbacks and a downturn in its lucrative export contracts, initiated a restructuring of its businesses with the aim of maintaining its margins. A policy of proactive external growth was adopted, focusing on the European market. Between 1976 and 1987, the company's non-French subsidiaries' share of consolidated revenues rose from 5% to 25%. During 1988, a new division, Thomson Consumer Electronics was formed. In 1995, this division was rebranded as Thomson Multimedia. During 1989, it acquired Philips' defence electronics business, Hollandse Signaalapparaten B.V. During the 1990s, Thomson-CSF gained a controlling interest in Sextant Avionique, which was formed by the merger of the company's avionics business with that of French aircraft manufacturer Aérospatiale. The company also divested its interests in the French bank Crédit Lyonnais and semiconductor manufacturer SGSThomson. During the late 1990s, French Prime Minister Lionel Jospin's Plural Left government initiated a policy of privatisation of several state-owned companies, including Thomson-CSF. During April 1998, several of the affected companies, including Aérospatiale, Alcatel, Dassault Industries, Thomson-CSF and Thomson SA reached a cooperation agreement endorsed by the French government. Several of these terms brought about a major restructuring of Thomson-CSF. Firstly, the professional and defence electronics businesses of Alcatel and Dassault Électronique were merged with Thomson-CSF. Secondly, satellite businesses of Alcatel, Aerospatiale