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French hosting company OVH raises EUR 250 million 

OVH raised nearly EUR 250 million from US investors KKR & Co and Towerbrook, reports Le Figaro, valuing the business at over EUR 1 billion. OVH’s co-founder Octave Klaba said that the two partners will help OVH to pass its target of EUR 1 billion turnover within four to five years. The company’s revenue was in the region of EUR 250 million in 2015. While the details of the investment have not been revealed, OVH has confirmed plans to continue its international expansion, particularly in the US.

The news follows press reports in July that OVH was planning to sell a minority stake to a consortium led by KKR & Co and Towerbrook to raise funds. OVH, which claims to be the third largest internet hosting company in the world, announced a EUR 800 million investment strategy over five years in February, including plans to open at least ten new data centres, in addition to the sixteen already in operation.
Source: TelecomPaper