Orange announces the acquisition of Basefarm Holding for EUR 350M
Basefarm Holding AS, an Oslo, Norway-based provider of cloud infrastructure and critical application services in Europe, announced getting into an agreement to sell 100% of its shares to the French telecom operator Orange.
The transaction was made for an enterprise value of 350 million euros ($409M) and is set to reinforce Orange Business Services’ position in the cloud computing services market for which it is already leader in France and a significant player in Europe.
Basefarm, founded in 2008 and led by CEO Fredrik Ohlsen, is a leading European player in cloud-based infrastructure and services, as well as the management of critical applications and data analysis. The company recorded revenues of over 100 million euros in 2017 and has a strong operational presence in several European countries, particularly in Norway, Sweden, the Netherlands, Austria and in Germany. Its business proposition lies at the forefront of the most innovative services in cloud computing and Big data and Artificial Intelligence thanks to the widely-recognized expertise of its 550 employees and to the high satisfaction from its customers.