ForePaaS, a unified platform that specializes in data analytics, machine learning (ML), and artificial intelligence (AI) efforts, has been purchased by OVHcloud, a global cloud hosting company. The acquisition’s financial details were not disclosed.
ForePaaS, based in Paris and San Francisco, received a $10 million Series A fundraising round from Elaia Partners, Hi Inov, and Calao Finance in late 2017. Over 140 countries are served by OVHcloud, which has 1.6 million subscribers.
The ForePaaS team’s 23 members, as well as its founders, have now joined the OVHcloud Group. They will begin developing a set of solutions that will actively contribute to OVHcloud’s growth acceleration goal by improving its Platform-as-a-Service (PaaS) offering.
Since its inception in 2015, ForePaaS has gained a reputation among important clients for providing a comprehensive solution that enables users to initiate, simplify, and accelerate machine learning and data analytics projects. ForePaaS supports a wide range of use cases for managing the data value chain holistically and producing essential data-driven applications for analysis, business intelligence, and process optimization.
Because of the ForePaaS solution’s ease of use and deployment, the company has been able to rapidly expand its worldwide customer base. Klépierre and Gefco have both used their expertise in Europe. In Asia, ForePaaS has established a strong partnership with the Mitsubishi Research Institute (MRI), which will continue to grow during this operation.
Thierry Souche, who serves the role of Chief Technology Officer (CTO) at OVHcloud, had the following to say:
By acquiring ForePaaS, we are endowing ourselves with an expert team that will complete the spectrum of OVHcloud’s competencies to fast-track the delivery of an expanded portfolio of development environments in the Platform as a Service (PaaS) segment. This acquisition of technology bricks and skills will allow us to serve an increasing breadth of use cases for our clients who are looking for agile solutions to facilitate their adoption of the cloud and give them full control over the lifecycle of their data.
Smart move by @OVHCloud in acquiring #Forepass! #ML, #Analytics…and #DataFabrichttps://t.co/qRk5iB63RV
— Donald Callahan (@dcallahan2) April 21, 2022
This additional information will ultimately be incorporated into the development environments that OVHcloud offers to its 1.6 million global clients. Developers will be provided with a comprehensive set of tools to manage the whole data value chain, from storage to database administration to artificial intelligence algorithms, all based on a unified roadmap. The technological foundations of the ForePaaS analytics platform will therefore be at the heart of OVHcloud’s Platform-as-a-Service value proposition.
These new services will be fully integrated into OVHcloud’s value proposition, which aims to deliver the best price-performance technologies in an open, reversible, predictable, and transparent environment.
