Global telecommunications operator Orange on Tuesday announced to acquire Cloud firm Basefarm Holding for 350 million euros ($410.5 million) to become a European leader in Cloud computing services for the enterprise sector.
Orange Group, through its enterprise subsidiary Orange Business Services, acquired 100 percent of the company’s capital for an enterprise value, the company said in a statement.
With its existing team of 1,600 Cloud computing experts, Orange Business Services is currently growing by around 15 to 20 percent each year.
The closing of the transaction is expected to take place during the third quarter of 2018.
Orange is one of the world’s leading telecommunications operators with sales of 41 billion euros in 2017 and 150,000 employees worldwide.