OVHcloud, French cloud champion, storming the stock market

The French cloud service provider has launched its IPO process on the Paris Stock Exchange and intends to raise up to € 400 million in capital through this transaction.

Based in Roubaix (North), the company with more than 2,400 employees has become in twenty years a star of French tech.  (Illustration) (AFP / PHILIPPE HUGUEN)

Based in Roubaix (North), the company with more than 2,400 employees has become in twenty years a star of French tech. (Illustration) (AFP / PHILIPPE HUGUEN)

A few months after announcing its desire to go public, OVHCloud took the plunge. The French champion of the cloud has indeed launched Monday, September 20 its IPO process on the Paris Stock Exchange. The group specializing in IT hosting and dematerialized services, which has had its introductory document approved by the Financial Markets Authority (AMF), intends to raise up to € 400 million in capital during this transaction.

Founder Octave Klaba and his family “will keep a large majority stake” in the company after the transaction, OVHcloud said in the press release announcing the transaction. The KKR and TowerBridge investment funds, which took a stake in OVHcloud in 2016, will sell part of their existing securities but will remain in the capital.

Objective of 25% growth in 2050

Based in Roubaix (North) and founded in 1999, the company with more than 2,400 employees has become in twenty years a star of French tech, succeeding in offering a European offer in a cloud market largely dominated by American giants such as ‘Amazon, Microsoft or Google. The cloud, online cloud computing, allows data to be stored and used remotely by hosting them on powerful servers.

The group, which achieved a turnover of 632 million euros in 2020 , and has an adjusted operating surplus (EBITDA) of 263 million euros, is a regular at strong growth rates, with revenue “which has grown on average by more than 20% each year over the past year. the last decade, “the statement said. “We aim to achieve an organic growth rate of turnover of around 25% by 2025 , which could be supported by acquisitions “, indicated Michel Paulin, the general manager of the group, quoted by the press release.

Leading private cloud provider in continental Europe

The group targets in particular customers of the State and more generally of public institutions. Along with Oodrive (French group specializing in data storage) and Outscale (a subsidiary of Dassault Systèmes), it is indeed one of the three cloud service providers holding a “SecNumCloud” label from Anssi (custodian of national IT security), which enables it to provide cloud services to the State and to operators of vital importance (OIV: energy networks, transport, CHU …).

OVHcloud achieves more than half of its turnover (62%) on the private cloud market, on which each client keeps its own physical servers, without these being shared with the servers of other clients. He claims to be “one of the two main providers of private cloud services in Europe, and the first in continental Europe”.

It also generates 13% of its turnover in the public cloud market. c, in which the physical servers are completely shared between all the clients. In this market, which made Amazon’s fortune in particular, OVHcloud claims to be “the leading European supplier”, and the fifth in Europe behind the American giants.

The IPO will be the second this year for a large French tech company, after that of the musical nugget Believe in June. Believe had been a little greedy in her ambitions. The company must have raised a little less money than expected (300 million instead of 500 million), and the share price remains for the moment slightly below the IPO price.

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