QSC AG enters into purchase agreement regarding the sale of all shares in Plusnet GmbH
- Proceeds from sale to be used to repay debt and boost QSC's Cloud and IoT operations
- Sale marks kick-off for planned growth strategy
Cologne, 7 May 2019 - QSC AG yesterday entered into an agreement with EnBW Telekommunikation GmbH, a subsidiary of EnBW Energie Baden-Württemberg AG, regarding the sales of all shares in its Plusnet GmbH subsidiary. The purchase price (equity value) amounts to EUR 229 million. The sale marks the kick-off for the accelerated expansion in QSC's Cloud and IoT businesses.
The sale of all the shares in Plusnet is therefore a major success for QSC AG in its capacity as digitaliser to the SME sector. The proceeds from the sale will enable it to step up the pace of expansion in its high-growth business fields. Overall debt repayment will increase the Company's autonomy when it comes to strategic decisions. At the same time, QSC's existing operations, particularly in its Cloud and IoT businesses, will be boosted with additional resources and a clearer focus. Measures here include addressing the market more actively, adopting a more energetic approach to sales and stepping up research and development activities. Not only that, the Company will also have the option of making targeted acquisitions to supplement its own technology portfolio.
Clear positioning as digitaliser to the SME sector
The decision to spin off the telecommunications business and thus enable the Company to make better use of new market opportunities was taken in 2017.
"The sale of Plusnet marks the kick-off for faster implementation of our growth strategy in our Cloud and IoT businesses", comments Jürgen Hermann, CEO of QSC AG. "What's more, in EnBW Telekommunikation GmbH we have found the ideal partner, and one that wishes to retain the brand and the company. After all, we will continue to offer telecommunications services to our customers and we also see opportunities to cooperate in innovative business fields."
QSC will be focusing with immediate effect on rapidly implementing its growth strategy in innovative business fields and forging long-term and reliable customer relationships with SME customers.
Closing of the transaction is expected to occur in the third quarter of 2019, and is subject to the approval of antitrust authorities and other closing conditions.
Further information about QSC's growth strategy after the sale of Plusnet GmbH will be released at an Analysts Conference on 27 May 2019.
About QSC AG
QSC AG is digitalising the German SME sector. With decades of experience and expertise in its Cloud, Internet of Things, Consulting, Telecommunications and Colocation businesses, QSC accompanies its customers securely into the digital age. The cloud-based provision of all services offers increased speed, flexibility, and availability. The TÜV and ISO-certified data centres in Germany and nationwide All-IP network at QSC AG form the basis for maximum end-to-end quality and security. QSC's customers benefit from one-stop innovative products and services that are marketed both directly and via partners.
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