Red Hat to buy cloud computing services provider eNovance

U.S. software company Red Hat Inc (NYSE: RHT) has agreed to acquire eNovance SAS, a provider of open source cloud computing services with headquarters in Paris and significant Canadian operations in Montréal. The cash and stock transaction is valued at 70 million euros, or around US$95 million, and is expected to be completed this month. Founded in 2008, eNovance last year secured $8.2 million in financing from European investors Entrepreneur Venture, BNP Paribas, Odyssée Venture and Oséo. French venture capital firm Odyssée Venture provided funding to the company in prior years.

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