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