VC-backed eNovance acquired by Red Hat

The sale price comprises €50m in cash and €20m of Red Hat stock.

eNovance is backed by Odyssée Venture, Oséo, Entrepreneur Venture and BNP Paribas. Odyssée and Oséo first backed the company in November 2011, providing €1m in funding in exchange for a minority stake.

The two firms were then joined by Entrepreneur Venture and BNP Paribas in a second funding round last July. The business secured €6m in funding, earmarked for bolstering eNovance's work force to 150 this year and entering the Asian and US markets.

At the time of its €6m funding round, the company also appointed a new operational management team of six, including the roles of CFO, HR director and several development, sales and production positions.

Company
Founded in 2008, eNovance is headquartered in Paris with additional offices in Montreal, San Francisco and Bangalore.

The company provides 24-hour managed services for a number of public clouds, such as Google Compute Engine and Cloudwatt, and also integrates and operates open-source cloud computing infrastructures. Its client base includes Orange, Cisco, Ericsson and Canal Plus.

People
eNovance was founded by CEO Raphaël Ferreira, CTO Nicolas Marchal and chief delivery officer Pierre Molin. Arun Oberoi is the vice president of global sales and services at Red Hat.

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