OVH, the “European champion” of the cloud, will go public in Paris

The French data storage provider wants to raise 400 million euros to ensure its development against the behemoths of the sector, the Americans Amazon, Microsoft and Google.

It is a French unicorn which announces this Monday its entry on the Paris Stock Exchange. The remote storage company OVHcloud, founded in Roubaix in 1999, hopes to raise 400 million euros for “Finance its rivalry with Amazon and accelerate its international expansion”, report Bloomberg.

OVH, the unicorn of the Élysée and Michelin

In 2016, OVH had been valued “Over a billion dollars” (enough to enter the club of unicorns, according to American criteria), when two American investment funds, KKR and TowerBrook Capital Partners, had bought 20% of its capital. Fame OVHcloud in 2019, it now has 400,000 servers and, among its 1.6 million customers, “The Michelin tire manufacturer or the French presidential palace”.

the “European cloud champion”, as society presents itself, who announced in June its IPO project is competing against Amazon, but also Microsoft and Google.

Family business

Its founder, Octave Klaba, and his family – his parents came from Poland after the company was founded, his brother, Miroslaw Klaba, is director of research and development – own 76% of the company and “Plan to remain majority shareholders”.

The IPO was carefully prepared “For years”, but had known a “Setback this year when a fire destroyed one of its four data centers in Strasbourg, and damaged another ”.

However, explains to the American economic media the managing director ofOVH, Michel Paulin, this did not have a significant effect on customers. And if some companies have lost their data, according to the law, “Backups are their responsibility and not those of storage companies”. The case nevertheless pushed OVH to revise its offer to “Guarantee everywhere a minimum of safeguard”.

Source

Bloomberg.com is the online media of Bloomberg, the American financial and economic news group created by ex-trader and billionaire Michael Bloomberg, which has achieved success thanks to its terminals connected to the bases of

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