Cloud computing firm OVHcloud experiences network outage ahead of IPO

Octave Klaba

French cloud computing company, OVHcloud, has experienced a network outage on October 13, just two days before it was due to launch one of the country’s largest initial public offerings of 2021.

The firm’s founder and chairman, Octave Klaba, said the downtime was caused by "human error" while one of its US-based datacentres was being reconfigured.

He said: "A wrong configuration of the router caused the network to fail," adding that OVHcloud was able to restore the...

OVHcloud seeking €400m in Euronext IPO before year’s end

Data Centre

Cloud storage provider OVHcloud is looking to raise €400 million (£343m) in a Paris IPO that would bring its valuation close to €4 billion.

The French firm will be listed on the Euronext stock exchange by the end of 2021.

OVHcloud needs the IPO to finance its competition with major cloud providers like Amazon Web Services and Microsoft Azure.

This is especially the case in the European cloud market, which is expected to grow even faster than the already...