France’s OVHcloud kicks off process for potential IPO

PARIS: French cloud computing services provider OVHcloud has started the process for a potential listing in Paris, a spokeswoman said on Monday, in what would be one of the country’s biggest tech transactions of the year.

Founded by Octave Klaba in 1999, OVHcloud is the biggest European-based cloud services provider, competing against U.S. giants Amazon Web Services, Microsoft’s Azure and Google Cloud, which dominate the market.

French politicians have championed OVHcloud as a possible alternative to U.S. cloud services providers, but it has so far lacked the scale and financial firepower to dent their market share.

OVHcloud has recently sealed partnerships with Europe’s leading telecoms operator Deutsche Telekom, French IT services companies Atos and Capgemini.