French Cloud Company eNovance acquired by Red Hat for €70M

Jun 19, 2014
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Red Hat, the leader in Open Source solutions providers, announced the acquisition of eNovance, the french company Founded in 2008 by Raphaël Ferreira, Nicolas Marchal and Pierre Molin. eNovance helps service providers and large-scale private enterprises build and deploy cloud infrastructures quickly and cost effectively. Both companies were already collaborating since 2013.

The acquisition, according to Red Hat, aims at meeting growing demand for enterprise OpenStack consulting, design and deployment.

Raphaël Ferreira, co-founders and CEO of eNovance declared: “We are excited to become part of Red Hat, a company that not only offers one of the best-in-class OpenStack distributions on the market today, but also which shares our common belief that OpenStack is best deployed and integrated in a continuous and seamless manner.”

The deal will be closed in June, for approximately 50 million Euros in cash and 20 million Euros in shares of Red Hat common stock, subject to certain adjustments at closing.