French hosting company OVH raises €250m

OVH has raised €250m from a consortium of US investors to fund its expansion plans.

OVH has succeeded in raising €250m from US investors Kohlberg Kravis Roberts & Co and Towerbrook, said French newspaper Le Figaro, valuing the business at over €1 bn. OVH’s co-founder Octave Klaba said that the new investors intend to help OVH to achieve its ambitious financial targets of €1bn turnover in the next five years.

In July this year reports circulated that OVH was planning to sell a minority stake to an unnamed consortium raise funds. OVH, which claims to be the third largest internet hosting company in the world, announced an €800m investment strategy, over the next five years, in February, including plans to open ten new data centres, taking the total of operational data centres to twenty-six.

The company turned over approximately €250m in 2015. The company said that it had plans to continue its international expansion, starting with the US. 

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