Qwant at Center of Talks to be Bought in New Push to Challenge Google Search

French cloud computing services company OVHcloud’s founder, Octave Klaba, is preparing to assume control of the search engine Qwant, following an agreement with public lender Caisse des Depots et Consignations (CDC).

Once praised by President Emmanuel Macron as the “French Google,” Qwant has struggled to capture market share against Alphabet’s dominant subsidiary, even with the government’s ongoing support and designation as the official search engine for state administration.

Synfonium: A Novel Entity to Purchase Qwant and Promote European Privacy

Qwant is set to be purchased through a newly-formed entity, Synfonium, which will be 75% owned by Octave Klaba and his brother Miroslaw, as detailed in a joint statement from CDC and Qwant.

CDC will hold the remaining 25% of shares in Synfonium.

Additionally, the new entity will incorporate SHADOW, an existing cloud platform for businesses, gamers, and content creators owned by the Klaba brothers.

Breathing New Life into the Pursuit of a European Alternative to Google and Bing

Qwant, launched in 2011 with a strong commitment to user privacy, has partly relied on Microsoft’s Bing web search engine technology since forming a partnership with Microsoft in 2019.

As the acquisition moves forward, the financial specifics remain undisclosed, but the deal’s completion hinges on an analysis of recent changes in the financial conditions of the Microsoft-Qwant partnership, according to the announcement.

While Qwant’s financial information and existing shareholding structure have not been revealed, the company’s statement highlights CDC’s role as a “cornerstone shareholder.”

The primary goal of the acquisition is to reinvigorate Qwant’s market position and emphasize its dedication to user privacy and data security.