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