ICON Corporate Finance completes work on latest transaction | South West Deals
Bristol-based investment bank ICON Corporate Finance has completed work on acquiring ForePaas.
The company is at the origin of a unified platform specialized in data analysis, machine learning and artificial intelligence.
It has been acquired by European cloud computing specialist OVHcloud, with ICON believing the deal will be “transformative”.
Ben Kolada, Principal at ICON, said, “We are proud to have advised ForePaaS on this strategically significant deal. The acquisition of ForePaaS further propels OVHcloud’s platform-as-a-service strategy and strengthens its position as a leading global cloud + AI player. .”
Paul Sinai, ICON customer, CEO and co-founder of ForePaaS, added, “Since our inception in 2015, we have worked hard to realize a vision; one where businesses would be able to create and run their own AI and data analysis factory in a simple and autonomous way, OVHcloud has quickly become a trusted partner for the deployment of our solutions.
“Today, I welcome this alliance which will enable us to jointly provide enterprises with a new generation of platforms for the large-scale deployment of their mission-critical applications.”
Ben Kolada led the transaction from ICON’s Silicon Valley office, while ICON Managing Director Alan Bristow and analyst Ed Oliver provided European coverage.