OVH ups global expansion with US headquarters

News Broadband United States 10 OKT 2016
OVH ups global expansion with US headquarters

French hosting company OVH is to establish its North American headquarters in the state of Virginia. Welcoming the decision, a government press release states that the company has committed a USD 47 million investment in the state, including the creation of its first US data centre in Fauquier County. 

The news coincides with the announcement by OVH that US private equity firms KKR & Co and Towerbrook have acquired a EUR 250 million minority stake in the company and will support its international expansion. First disclosed by the press in August, the transaction reportedly values OVH at over EUR 1 billion. 

The assets raised by the two US investors will support the company’s expansion in the US and Asia. OVH revealed a more substantial investment strategy following the capital increase, committing to a EUR 1.5 billion spend over five years, compared to EUR 800 million announced in February. The company also disclosed that its FY 2016 turnover is expected to reach EUR 320 million.


 

Categories:

Internet

Companies:

OVH

Countries:

France,  United States

Tags:

Hosting - cloud - data centres, Corporate strategy, Financial funding

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