{"id":17039,"date":"2022-04-25T12:25:01","date_gmt":"2022-04-25T10:25:01","guid":{"rendered":"https:\/\/www.joffeassocies.com\/forepaas-joins-forces-with-a-french-tech-powerhouse\/"},"modified":"2026-09-30T17:04:30","modified_gmt":"2026-09-30T15:04:30","slug":"joffe-associes-advises-forepaas-on-its-sale-to-ovhcloud","status":"publish","type":"post","link":"https:\/\/www.joffeassocies.com\/en\/joffe-associes-advises-forepaas-on-its-sale-to-ovhcloud\/","title":{"rendered":"Joffe & Associ\u00e9s advises ForePaaS on its sale to OVHcloud"},"content":{"rendered":"
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CFNEWS article by Baptiste Rubat du M\u00e9rac<\/a>, published on April 21, 2022, at 3:05 p.m.<\/p>\n

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Although its 40% EBITDA margin gives it the resources to finance its growth initiatives, OVHcloud<\/strong> had opted to go public partly to accelerate its growth, particularly through acquisitions. The European hosting and cloud services provider has completed its first acquisition since its IPO six months ago, which raised \u20ac350 million<\/strong> (see below), and its fourth in two years after OpenIO, Exten Technologies, and BuyDRM.
\nThe target, ForePaaS<\/strong>, counted Elaia<\/strong> \u2014 already an investor in OpenIO \u2014 Hi Inov<\/strong>, and Calao Finance<\/strong> among its shareholders. The three investors injected \u20ac5.6 million<\/strong> in 2017, followed by a \u20ac1.43 million <\/strong>bridge round two years later (see the article and company profile below). The sellers, including the management team led by co-founders Paul Sina\u00ef<\/strong> and Vincent Michel<\/strong>, were advised during the negotiations by London-based boutique Icon Corporate Finance, with no competitive bidding process being launched.
\nOVH was already one of the partners of the software company, which develops a multicloud data analytics platform for building enterprise applications powered by artificial intelligence. \u201cIn our business, it is crucial to invest continuously to remain at the forefront of technology. We were therefore not yet at break-even and chose to scale up by joining an international group with very strong ambitions,\u201d explains Paul Sina\u00ef.
\nWith \u20ac663 million in revenue, OVHcloud operates 400,000 servers across 33 data centers on four continents and serves 1.6 million customers.<\/p>\n

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Shift to indirect sales and workforce reduction to 23 employees<\/strong><\/h4>\n

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ForePaaS expands the product portfolio of the listed northern French company, which already comprises 70 PaaS solutions \u2014 cloud-hosted application development tools. Founded in 2015, the start-up helps customers build algorithms and develop AI-powered applications on its platform while retaining ownership of their data.
\nThe company still does not disclose its revenue, but its headcount has declined since 2017, from 40 to 23 employees. The reduction reflects a shift from a direct sales model to an indirect one, with a partner network responsible not only for distribution, but also for consulting, training, and maintenance.
\nThe expansion into the U.S., announced as part of the 2017 funding round, led to the creation of a San Francisco<\/strong> subsidiary, headed by Paul Sina\u00ef. Europe still accounts for 60% of revenue, with the remainder split between North America and Asia, where a partnership with Mitsubishi Research Institute was signed last year.
\nForePaaS\u2019s customers include just under 20 mid-sized and large companies, among them Japanese construction giant Takenaka<\/strong>, Kl\u00e9pierre<\/strong>, Path\u00e9-Gaumont<\/strong>, and ClassNK<\/strong>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

CFNEWS article by Baptiste Rubat du M\u00e9rac, published on April 21, 2022, at 3:05 p.m.   Although its 40% EBITDA margin gives it the resources to finance its growth initiatives, OVHcloud had opted to go public partly to accelerate its growth, particularly through acquisitions. The European hosting and cloud services provider has completed its first […]<\/p>\n","protected":false},"author":4,"featured_media":5294,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-17039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals-en"],"acf":[],"yoast_head":"\nJoffe & Associ\u00e9s advises ForePaaS on its sale to OVHcloud – Joffe & Associ\u00e9s<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.joffeassocies.com\/en\/joffe-associes-advises-forepaas-on-its-sale-to-ovhcloud\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joffe & Associ\u00e9s advises ForePaaS on its sale to OVHcloud\" \/>\n<meta property=\"og:description\" content=\"CFNEWS article by Baptiste Rubat du M\u00e9rac, published on April 21, 2022, at 3:05 p.m.   Although its 40% EBITDA margin gives it the resources to finance its growth initiatives, OVHcloud had opted to go public partly to accelerate its growth, particularly through acquisitions. 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