Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Italy
  4. Borsa Italiana
  5. Wiit S.p.A.
  6. News
  7. Summary
    WIIT   IT0005440893


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Wiit S p A : myLoc acquisition

09/19/2020 | 09:00am EDT





Milan, September 19, 2020 - WIIT S.p.A. ("WIIT" or the "Company"; ISIN IT0004922826; WIIT.MI), a leading Italian player in the Cloud Computing market of enterprises demanding uninterrupted Hybrid Cloud and Hosted Private Cloud services for critical applications and listed on the STAR segment of the Italian Stock Exchange organised and managed by Borsa Italiana S.p.A., announces the signing of an agreement (the "Contract" or "SPA") for the acquisition of 100% share capital of myLoc managed IT AG ("myLoc") (the "Transaction"), a German provider of cloud and colocation services for enterprises and individuals, part of the ProSiebenSat.1 Group.

In accordance with the Group's development & M&A strategy approved by the Company, myLoc is WIIT's first international acquisition.

The Chief Executive Officer, Alessandro Cozzi and Francesco Baroncelli, Chief M&A & Head of New Markets at WIIT stated: "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 paves the way to become a European operator and further increase our critical mass. myLoc's business model is perfectly in-linewith WIIT's, with recurring revenues of 90% and an ability to accommodate the future value-addedservices 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 centres 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".

Friedrich Thoma, Executive Vice President Group Strategy & Corporate Development ProSiebenSat.1 Media SE said: "The business of myLoc has developed extremely well over the last couple of years. However, by clearly focusing on our core business entertainment, we are no longer the best owner for a hosting and infrastructure provider. With WIIT we have found the ideal buyer for the company, who wants to further expand and internationalize the business of myLoc".

* * *

1. myLoc business overview

myLoc, specialised in the cloud business and with a proprietary data centre located in Düsseldorf, operates on the German market, providing colocation, managed hosting, private and public cloud and server hosting services.

The company's share capital is fully-owned by Virtual Minds AG ("VM"), a subsidiary of ProSiebenSat.1 Media SE.

myLoc generated revenues were Euro 16.2 million in 2019, with an EBITDA of Euro 7.4 million and an EBIT of Euro 4.2 million. Its business model and expertise make myLoc a benchmark for colocation and hosting provider services in Germany and, for this reason, it is expected that the transaction will enable WIIT to immediately benefit from the significant development potential of the German market.

2. Transaction overview

WIIT has entered into an agreement that provides the acquisition from VM of 100% of the share capital of myLoc.

The acquisition price amounts to c. Euro 50 million (the "Price"), based on an Enterprise Value of myLoc of c. Euro 50 million as at June 30, 2020. The Transaction is not subject to any conditions and closing is expected to occur on 30 September 2020.

WIIT has entered into an amendment to the loan contract with its existing banking syndicate, Intesa Sanpaolo S.p.A. and Banco BPM S.p.A., to fund the transaction, whereby an additional credit line at substantially similar terms and conditions to those applied to the other existing lines is provided for.

The Contract provides for customary representations and warranties of VM. Wiit has entered into a W&I insurance (Warranty & Indemnity) to cover related indemnification obligation.

It is established that 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.

3. Effect of the transaction on WIIT

The Transaction's execution shall allow WIIT to: (i) develop international markets beginning with Germany; (ii) extend, step up and diversify the range of IT services provided and, in particular, the continuous hosted private and hybrid cloud services for business; (iii) implement the investment, growth and development strategy of the WIIT Group, which targets the expansion of its operations through organic growth through internal lines and by means of M&A.

* * *

ING Corporate Finance acted as the sole financial advisor, Pedersoli Studio Legale & Weitnauer as legal advisor of WIIT and Deloitte as tax and accounting advisor.

* * *


ProSiebenSat.1 combines leading entertainment brands with a successful production business and a strong commerce and online dating portfolio under one roof and is thus one of the most diversified media companies in Europe. The company offers the best entertainment - whenever, wherever and on any device and addresses over 45 million TV households in Germany, Austria and Switzerland with it's15 free and pay TV channels. At the same time, the company reaches around 36 million unique users every month with online offerings marketed by ProSiebenSat.1. Successful formats like "The Masked Singer", "Germany's next Topmodel" and "Joko & Klaas vs. ProSieben" as well as superstars like Heidi Klum and Dwayne Johnson are part of the family. Shows such as "Bosch", "Love is Blind", "Married at First Sight" or "Queen of Drags" are in-house productions of the production and distribution network Red Arrow Studios. The global video channel network Studio71 reaches over 9.9 billion video views per month and operates more than 1,400 web channels. At the same time, ProSiebenSat.1 uses its expertise in brand building for the commerce and online dating pillars: NuCom Group is a fast-growinge-commerce player with upfront portfolio companies in the areas of consumer advice, experiences and beauty & lifestyle. With ParshipMeet Group, the company has created a leading global platform in the online dating segment and thus underlines its position as a strong growth partner for digital companies.

Behind ProSiebenSat.1 are around 7,000 employees, who entertain and delight the audience and customers with great passion every day.


WIIT S.p.A., listed on the STAR segment of the Italian Stock Exchange organised and managed by Borsa Italiana S.p.A (WIIT.MI), is a leading Italian Cloud Computing market player, focused particularly on the Hybrid Cloud and Hosted Private Cloud for enterprises market. The company focuses and specialises in Hosted Private and Hybrid Cloud services for enterprises requiring critical application management and business continuity and manages all the main international platforms (SAP, Oracle and Microsoft), providing an end-to-end approach. WIIT manages its own data centres, with the main centre "Tier IV" certified by the Uptime Institute LLC of Seattle (United States) - the highest level of reliability possible - and is among the SAP's best certified partners. For further details, reference should be made to the company website (wiit.cloud).

For further information:

Investor Relations WIIT S.p.A.:

Stefano Pasotto - CFO & Investor Relations Director

Francesca Cocco - Lerxi Consulting - Investor Relations

  1. +39.02.3660.7500 Fax +39.02.3660.7505 ir@wiit.cloud www.wiit.cloud

Corporate & Finance Press Office Spriano Communication&Partners Matteo Russo and Cristina Tronconi Tel. 02 83635708 mob. 347/9834881 mrusso@sprianocommunication.com ctronconi@sprianocommunication.com@SprianoComm

This is an excerpt of the original content. To continue reading it, access the original document here.


WIIT S.p.A. published this content on 19 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2020 12:59:04 UTC

© Publicnow 2020
All news about WIIT S.P.A.
06/14WIIT S P A  : Purchase of treasury shares – June 2021
06/11WIIT S P A  : New version of the company By-Laws filed at Companies Registration..
06/08WIIT S P A  : Completes Placement Of 2.1 Million Shares
05/25WIIT S P A  : Unit Signs Framework Agreement With Intred
05/25WIIT S P A  : Three-year framework agreement between WIIT, through the subsidiar..
05/24WIIT S P A  : Notice of Change in the composition of the share capital
05/18WIIT S P A  : Stock Split Completion
05/13WIIT S P A  : _Q1 2021 Results Presentation
05/13WIIT S P A  : Interim management statement of first quarter consolidated at 31st..
05/10WIIT S P A  : Publication on Shareholders' Meeting Voting Results 05.05.2021
More news
Sales 2021 71,8 M 87,1 M 87,1 M
Net income 2021 8,40 M 10,2 M 10,2 M
Net Debt 2021 93,7 M 114 M 114 M
P/E ratio 2021 52,2x
Yield 2021 0,93%
Capitalization 442 M 536 M 536 M
EV / Sales 2021 7,46x
EV / Sales 2022 6,66x
Nbr of Employees 296
Free-Float 36,1%
Chart WIIT S.P.A.
Duration : Period :
Wiit S.p.A. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends WIIT S.P.A.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 20,78 €
Last Close Price 17,72 €
Spread / Highest target 21,3%
Spread / Average Target 17,2%
Spread / Lowest Target 13,4%
EPS Revisions
Managers and Directors
Alessandro Cozzi Chief Executive Officer & Director
Stefano Pasotto CFO & Investor Relations Director
Riccardo Sciutto Chairman
Igor Bailo Chief Operating Officer & Director
Annamaria di Ruscio Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
WIIT S.P.A.8.71%536
ACCENTURE PLC9.56%181 611