At what enterprise value was BLUE acquired in 2026?

You can find the full valuation details of BLUE on mynth capital. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the TMT (Tech, Media, Telecom) industry currently tracks an average EBITDA multiple of 14.3x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of BLUE when it was acquired by LEGAL & GENERAL L&G / BPIFRANCE?

The exact EV/EBITDA multiple for BLUE is available on mynth capital. For comparison, the TMT (Tech, Media, Telecom) sector currently shows an average EBITDA multiple of 14.3x. Join our community for free to access full valuation data and industry trends.

When was BLUE acquired by LEGAL & GENERAL L&G / BPIFRANCE?

BLUE was acquired by LEGAL & GENERAL L&G / BPIFRANCE in 2026.

What was the revenue of BLUE at the time of the deal?

The revenue of BLUE at the time of the deal is estimated to be in the range of 50M - 100M EUR. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the BLUE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the BLUE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.simmons-simmons.com/en/about-us/news/simmons-simmons-advises-l-g-on-acquisition-of-cloud-operator-blue

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Home Database TMT (Tech, Media, Telecom)BLUE

04/2026

BLUE acquired by LEGAL & GENERAL L&G & BPIFRANCE

FRANCE IT Services / Infrastructure & Cloud / MSP (Managed Services) REV 50M - 100M EUR

Context

The acquisition of Blue by Legal & General Asset Management (L&G) represents a significant entry into the French sovereign cloud market for the British institutional manager’s digital infrastructure fund, LDIF. This transaction marks the conclusion of a highly successful holding period for Quilvest Capital Partners, who served as the lead sponsor since 2020. During this period, Blue nearly tripled its revenue, reaching 55 million EUR in 2025, supported by three strategic build-ups: Oceanis, ADMI, and Openhost. The deal structure involves a majority stake acquisition by L&G alongside the founder and CEO, Nicolas Boittin, while Bpifrance continues its long-term support as a minority shareholder. The transaction was negotiated on a bilateral basis following an unsolicited offer from L&G, with the financing package utilizing a portable senior debt facility refinanced in mid-2025. Strategically, the investment aims to capitalize on Blue’s established multi-regional footprint and its transition into a comprehensive MSP with deep expertise in cybersecurity and private networking.

BLUE, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.3x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Blue is a leading sovereign cloud operator and Managed Service Provider (MSP) based in Western France, specializing in high-assurance digital infrastructure for the B2B segment. The company operates two proprietary datacenters and provides an integrated "one-stop-shop" suite of digital services, including private network connectivity, cloud hosting, workplace management, and advanced cybersecurity solutions. Originally founded as Bretagne Télécoms, the firm has undergone a significant industrial transformation, evolving from a regional connectivity provider into a diversified digital services platform through a combination of organic innovation and strategic build-ups. Its business model is centered on the provision of secure, locally hosted infrastructure that meets the stringent data sovereignty requirements of French enterprises and public institutions.

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REFERENCES

Revenue range: 50M - 100M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of BLUE by LEGAL & GENERAL L&G / BPIFRANCE are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Target: blue

Acquirer: legal & general l&g / bpifrance