Europe-based cloud provider OVH has secured a €400 million line of credit.
To continue its international expansion program, OVH has secured a €400 million line of credit from a pool of nine banking institutions.
The company currently has has 270,000 servers deployed in 20 data centres across five countries in North America, Europe, and Asia Pacific.
The most recent additions were in Australia (where OVH recently opened its APAC regional headquarters), Singapore and Poland.
{loadposition stephen08}Two more data centres are under construction in Germany and the United Kingdom, with another two in the United States expected to be available soon.
“This new financing provides us with an increasingly robust banking pool, renewing its confidence in the group's international strategy and positioning," said OVH group chief financial officer Nicolas Boyer.
"In addition, the entry of US investment bank JP Morgan into this pool reflects our position as a global player in cloud computing.
"We will continue to implement our strategic plan through international deployment, consolidation of our position in the digital market, acceleration of our growth among enterprise customers and by reinforcement and structuring of our organisation to take full advantage of market opportunities.”
The line of credit is approximately equal to OVH's 2016-17 revenue.