German firm looking to sell three data centres

German firm looking to sell three data centres

Munich centre.jpg

German cloud and IT services firm q.beyond is considering the sale of its colocation business, which includes three wholly-owned data centres.

The company says it wants to focus on cloud services, data analytics, embedded software, IoT and artificial intelligence.

The IP Exchange unit that could be offloaded operates three data centres in Munich and Nuremberg and employs 51 staff. In 2020, the unit generated revenues of around €20 million.

“The purpose of this spin-off is to extend the strategic options available for this investment-intensive business, and in particular to prepare it for partnerships or sale,” said q.beyond.

It added that a sale was “only conceivable on very attractive terms”.

Jürgen Hermann, q.beyond CEO, said of the sale: “The colocation business has contributed solid revenues and earnings for years and there is no pressure to act now.

“Having said that, colocation offers few synergies with our cloud, SAP and IoT business, and the extra liquidity would further increase our leeway for acquisitions.”

He said the opportunities available to IP Exchange could be “better leveraged” with a suitable new owner or a “new partner at q.beyond’s side”.

Last year, the company acquired software engineering specialist Incloud. Acquisitions of further technology companies are planned for 2021 and the years ahead, said q.beyond.

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