Wiit S.p.A. (BIT:WIIT) entered into an agreement to acquire myLoc managed IT AG from Virtual Minds AG for an enterprise value of €50 million on September 19, 2020. The transaction is financed by bank debt, for which WIIT obtained additional support from its existing pool of financing partners Intesa San Paolo S.p.A. and Banco BPM S.p.A. In 2019, Myloc Managed It Ag reported total revenues of €16.2 million, EBITDA of €7.4 million and EBIT of €4.2 million. All three Managing Directors of myLoc will remain with myLoc for a minimum period of at least two years, so as to manage the integration of myLoc’s business into the WIIT Group and to continue myLoc’s development in Germany. The transaction is not subject to any conditions. The transaction is expected to close on September 30, 2020. ING Corporate Finance acted as the sole financial advisor, Wolfgang Weitnauer, Oliver Zander, Andreas Michael, Alexander Raif, Jens Ginal, Tilman Mueller-Stöfen, Alexander Tribess and Nazik Grigorian of Weitnauer Rechtsanwälte and Marcello Magro and Marco Molineris of Pedersoli Studio Legale & Weitnauer as a legal advisors and Deloitte as tax and accounting advisor to Wiit S.p.A. Raymond James & Associates, Inc. acted as financial advisor to myLoc managed IT AG.