July 16, 2018 / 7:17 AM / 9 months ago

Telecoms group Orange buying Basefarm for 350 million euros enterprise value

The logo of French telecom operator Orange is pictured during the Viva Tech start-up and technology summit in Paris, France, May 25, 2018. REUTERS/Charles Platiau

PARIS (Reuters) - Orange (ORAN.PA), France’s biggest telecoms group, is buying Basefarm Holding in a deal worth 350 million euros ($409 million) based on enterprise value, to boost its presence in cloud computing services.

Orange said Basefarm Holding was a leading European player in cloud-based infrastructure and services, with revenues of over 100 million euros in 2017.

“We are very proud to announce the acquisition of Basefarm, which will mark a major milestone in our international development. In particular, the company’s integration will enable us to significantly extend our Big Data and critical application management services on a rapidly consolidating market,” said Helmut Reisinger, Chief Executive Officer of Orange Business Services.

Reporting by Sudip Kar-Gupta; Editing by Dominique Vidalon

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