By Alberto Delclaux 
 

France's Orange SA (ORA.FR) said Monday that it agreed to buy cloud-computing services company Basefarm for 350 million euros ($408.9 million), following a tender process initiated by Abry Partners LLC (ABP.XX) for its stake in the company.

Basefarm focuses on cloud-based infrastructure and the management of critical application services in Europe. In 2017 it had revenue of more than EUR100 million and it currently employs 550 people, Orange said.

The telecoms company said Basefarm will be incorporated into Orange Business Services, which has a team of 1,600 cloud computing experts.

Orange expects to close the acquisition in the third quarter of this year.

 

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

 

(END) Dow Jones Newswires

July 16, 2018 03:16 ET (07:16 GMT)

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