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Home > Web Hosting > WIIT acquires ProSiebenSat.1’s myLoc

WIIT acquires ProSiebenSat.1’s myLoc

WIIT announces the signing of an agreement for the acquisition of 100% share capital of myLoc.

Erdem Yasar by Erdem Yasar
October 2, 2020
in Web Hosting
2 min read
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WIIT acquires ProSiebenSat.1's myLoc
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Italian cloud provider WIIT announced that the company acquires myLoc. myLoc, a German provider of cloud and colocation services for enterprises and individuals focuses on hosting solutions and in 2019 generated revenue of EUR 16 million. The company’s assets include a business continuity site, as well as five data centers with over 2,000 square meters of space at the Düsseldorf headquarters.

50 million Euros

Alessandro Cozzi, Chief Executive Officer, at WIIT
Alessandro Cozzi, Chief Executive Officer, at WIIT

According to the announcement, the sale has a total volume of EUR 50 million. myLoc is WIIT’s first international acquisition. ProSiebenSat.1 also stated that with its new owner, myLoc will push forward the internationalization of its services. The Chief Executive Officer, Alessandro Cozzi and Francesco Baroncelli, Chief M&A & Head of New Markets at WIIT said,

“This acquisition, our first outside of Italy and in a market presenting such significant growth potential as Germany, is part of our stated strategy and a major step towards future growth, following two years of acquisitions and consolidation in the Italian market. This Transaction is “transformational” and allows us to kick off the Project CLOUD4EUROPE to create the European leader in the Cloud for Business Critical Applications. myLoc’s business model is perfectly in-line with WIIT’s, with recurring revenues of 90% and an ability to accommodate the future value-added services that we will develop on the market, while also presenting earnings and cash generation in line with WIIT stand-alone. Among various valuable assets, the Company also has five data centers with over 2.000 square meters of space in its headquarters in Düsseldorf in addition to a DR/Business Continuity site in its secondary headquarters. Finally, myLoc is led by a young management team with extensive experience. Our growth plan will continue along these lines, with a close focus also on other European countries, in addition to our continued consolidation of the Italian market.”

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Tags: myLocProSiebenSat.1Wiit
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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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