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q.beyond reviews potential sale of colocation business

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DGAP-News: q.beyond AG / Key word(s): Strategic Company Decision
27.05.2021 / 07:30
The issuer is solely responsible for the content of this announcement.

q.beyond reviews potential sale of colocation business

- Wholly-owned subsidiary IP Exchange pools housing and hosting expertise
- Sale as one strategic option alongside partnership or stand-alone operation
- Disposal would increase leeway for targeted acquisitions

Cologne, 27 May 2021 - q.beyond AG is, among other strategic options, reviewing the potential sale of its colocation business. Since 1 January 2021, the IT service provider's housing and hosting business has been based at IP Exchange GmbH. This wholly-owned subsidiary operates three data centres in Munich and Nuremberg and has 51 employees. In 2020, it generated revenues of around € 20 million. The purpose of this spin-off was to extend the strategic options available for this investment-intensive business and in particular to prepare it for partnerships or sale.

Sale only conceivable on very attractive terms

As the decision in favour of any of these strategic options requires familiarity with relevant market circumstances, the Management Board has decided to initiate a structured process to determine the potential for a possible sale. Approval to sell most or all of q.beyond's wholly-owned subsidiary would require very attractive terms.

q.beyond's CEO, Jürgen Hermann, explains the reasons for the decision: "The colocation business has contributed solid revenues and earnings for years and there is no pressure to act now. Having said that, colocation offers few synergies with our Cloud, SAP and IoT business and the extra liquidity would further increase our leeway for acquisitions." Not only that, the opportunities available to IP Exchange could be better leveraged with a suitable new owner or a new partner at q.beyond's side.

Three focuses for acquisitions

Just like acquisitions, divestments also form part of the "2020plus" growth strategy. In 2019, q.beyond sold its traditional telecommunications business while in 2020 it took over the software engineering specialist Incloud in its entirety. Acquisitions of further technology companies are planned for 2021 and the years ahead. Here, the company has set three key focuses: First, by making acquisitions it aims to strengthen or broaden its sector focus. Second, the acquisitions should assist targeted extension in its product portfolio, for example in the field of enterprise software. Third, acquisitions should supplement existing technological expertise to enhance the company's position in forward-looking markets such as cloud services, data analytics, embedded software, IoT and artificial intelligence.

Accelerated growth also driven by acquisitions

With an equity ratio of 74%, net liquidity of around € 40 million and no debt, q.beyond is already strongly positioned for potential acquisitions. The possible sale of most or all of IP Exchange GmbH would further significantly increase the company's financial leeway and create further options. Jürgen Hermann states the core objective: "We will accelerate our growth in the years ahead."

 

About q.beyond AG

q.beyond AG is the key to successful digitalisation. We help our customers find the best digital solutions for their business and then put them into practice. Our strong team of 900 people accompanies SME customers securely and reliably throughout their digital journey. We are experts in Cloud, SAP and IoT.

q.beyond AG resulted from the rebranding of QSC AG in September 2020. With nationwide locations and its own certified data centres, it is one of Germany's leading IT service providers.


Contact

q.beyond AG
Arne Thull
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669-8724
invest@qbeyond.de
www.qbeyond.de


27.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

q.beyond AG

Mathias-Brüggen-Straße 55

50829 Cologne

Germany

Phone:

+49-221-669-8724

Fax:

+49-221-669-8009

E-mail:

invest@qbeyond.de

Internet:

www.qbeyond.de

ISIN:

DE0005137004

WKN:

513700

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1200964


 

End of News

DGAP News Service

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