q.beyond sells first part of colocation business
- DATEV, an existing customer, acquires data centre it uses in Nuremberg
- Sale will have positive one-off impact on q.beyond’s EBITDA and free cash flow
- Decision on future of remaining colocation business due in autumn 2021
- q.beyond extends financial scope and plans further takeovers
Cologne, 2 August 2021 – At the end of May 2021, q.beyond AG announced its intention to review the sale of its colocation business, among other strategic options. In a first step, the company’s existing customer DATEV is now acquiring the resources it itself uses. Due to the particular requirements of this service provider to tax advisors, auditors and lawyers, the relevant business has to date been managed in a separate company, IP Colocation GmbH, which uses a data centre with 1,000 m² of space at the Nuremberg location. DATEV is now acquiring 100 percent of IP Colocation. The parties have agreed to maintain confidentiality as to the purchase price.
Based on an initial assessment, the sale will have a positive one-off impact on q.beyond’s EBITDA and free cash flow in a single-digit million-euro range. The company will adjust its guidance accordingly upon publication of its half-year financial report on 9 August 2021. In autumn 2021, q.beyond will then decide on the future of IP Exchange GmbH, the wholly-owned subsidiary at which most of q.beyond’s colocation business has been pooled since 1 January 2021. From the outset, this spinoff was intended to extend the range of strategic options available to this high-investment business field and, in particular, to open it up for partnerships or sale.
Acquisitions drive growth
The sale now agreed for IP Colocation has extended q.beyond’s scope to make further acquisitions. The company already took over all of the shares in datac, a modern workplace specialist, in June 2021 and acquired a stake in Snabble, a pioneer in innovative scan-&-go solutions for retailers, just a few weeks later. q.beyond’s CEO, Jürgen Hermann, has plans for further M&A activities: “We aim to generate further growth, not least by making acquisitions, and to further extend our innovative lead.”
Clear criteria for takeovers
q.beyond is interested in acquiring majority stakes in technology companies that reinforce its existing sector focus, extend its product portfolio or supplement its available technological expertise. Here, it focuses on technology providers with annual revenues of up to € 20 million and a sustainably profitable business model. Furthermore, q.beyond invests in start-ups to boost its sector-specific digitalisation platforms with innovative solutions.
Jürgen Hermann sees q.beyond, which has no debt, as being well positioned to make further acquisitions, and that not only in financial terms: “Our flat hierarchies and entrepreneurial culture make it easier for us to integrate new companies. These factors provide the scope needed for innovations and customer proximity and are backed up by our sales and administration activities.” Moreover, this created cross-selling potential in all areas of the company and thus supported its “2020plus” growth strategy.
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 1,000 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.
Head of Investor Relations/Mergers & Acquisitions
T +49 221 669 8724