ProSiebenSat.1 sells myLoc to European Cloud Provider WIIT

ProSiebenSat.1 sells myLoc to European Cloud Provider WIIT

Unterf hring/Milan, September 21, 2020. ProSiebenSat.1 Media SE is selling its Virtual Minds subsidiary, myLoc managed IT AG, to the Italian cloud provider WIIT S.p.A. MyLoc focuses on hosting solutions and in 2019 generated revenue of EUR 16 million with EBIT of EUR 4 million. The company's assets include five data centers with over 2,000 square meters of space at the D sseldorf headquarters, as well as a business continuity site. With MyLoc the new owner will push forward the internationalization of its services. The sale has a total volume of EUR 50 million.

With the sale of MyLoc, ProSiebenSat.1 is rigorously pursuing its strategy of focusing on its core entertainment business. The infrastructure provider MyLoc will thus be hived off from the Virtual Minds technology holding which will now focus even more strongly on its core AdTech expertise. Virtual Minds offers advertisers a comprehensive technology range for booking and playing advertising.

Friedrich Thoma, Executive Vice President Group Strategy & Corporate Development ProSiebenSat.1 Media SE: Over the last few years, the business of MyLoc has developed extremely well. However, with our clear focus on our core entertainment business, we are no longer the best owner for a hosting and infrastructure provider. We have found the ideal buyer for the company with WIIT - who wants to further expand and internationalize the business of MyLoc.

Alessandro Cozzi Chief Executive Officer and Francesco Baroncelli, Chief M&A & Head of New Markets at WIIT: MyLoc is our first acquisition outside Italy and in a market with very significant potential. This transaction is part of our stated strategy of an IPO and a major step for our growth, following two years of acquisition and consolidation on the Italian market. With MyLoc we are continuing our growth strategy. Alongside continued consolidation in Italy we will also focus on other European countries.

LINK:	https://en.prosiebensat1.com/en/press/prosiebensat-1-sells-myloc-to-eu...
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