OVH Raises €400 Million to Support its Strategic Development
As a result of OVH’s sustained growth since its creation in 1999 the group received support from its banking pool in the form of a €400 million RCF line of credit.
Today, OVH has 270,000 servers deployed within 20 datacentres across five countries in North America, Europe, and Asia Pacific. The group delivers its cloud services (private, public and hybrid) to more than one million customers worldwide and it generated revenues of close to €400 million in 2016/2017.
This new investment will permit OVH to follow its global expansion strategy, which began in autumn 2016
. The European cloud leader had announced an ambitious development and investment plan, worth €1.5 billion.
The group has already begun the execution of this global expansion plan, notably with the opening of datacentres in new geographical zones: a total of three datacentres are now located in
Australia, Singapore and Poland
, with a fourth and a fifth under construction in Germany and the United Kingdom. In the United States, where OVH launched a new company in 2017, two additional datacentres will also be available soon.
Nicolas Boyer, Chief Financial Officer of the OVH group, indicated: “This new financing provides us with an increasingly robust banking pool, renewing confidence in the group's international strategy and positioning. In addition, the entry of US investment bank JP Morgan into this pool reflects our position as a global player in cloud computing. We will continue to implement our strategic plan through international deployment, consolidation of our position in the digital market, acceleration of our growth among enterprise customers and by reinforcement and structuring of our organisation to take full advantage of market opportunities.”
Société Générale Corporate & Investment Banking has accompanied OVH since 2014 and acted as Coordinator and Documentation Agent. The Mandated Lead Arrangers and Bookrunners of the syndicated loan were BNP Paribas, Groupe Crédit Agricole, HSBC France and Société Générale Corporate & Investment Banking. The participants were JPMorgan Chase Bank N.A. (Paris Branch), CIC Nord Ouest and Banque Commerciale du Marché Nord Europe.
Caitlin Haskins ovh@10fold.com