QSC's IT competence strengthened by new acquisition
Cologne, December 21, 2010. Effective immediately, Cologne-based QSC AG has acquired all shares of IP Partner AG, of Nuremberg. Formed in the year 2000, this company is a fast-growing provider of hosting and IT outsourcing services for small and mid-size enterprises. With its workforce of nearly 60 people, the company is expected to generate revenues of € 14 million and positive net income for the 2010 fiscal year. IP Partner operates two data centers in Munich and Nuremberg with more than 10,000 servers for over 1,000 business customers. Construction is currently under way on further data centers having total floor space of 3,000 square meters. With this acquisition, QSC is accelerating its transformation process from a telecommunications (TC) provider to an integrated information and communications technology (ICT) service provider, thus enabling it to offer its predominantly small and mid-size customers a far broader spectrum of products and services in the future.
The purchase price involves two components. QSC will pay € 15 million in cash to the former shareholders as of January 3, 2011. A further € 10 million will be due and payable by no later than the end of April 2012, contingent upon various prerequisites, including a sustained high level of corporate growth, in particular.
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