ProSiebenSat.1 sells Virtual Minds unit My Loc for EUR 50m
September 22, 2020
Unterföhring-based ProSiebenSat.1 Media is selling the web hosting company My Loc Managed IT AG to the Italian cloud provider WIIT S.p.A.. The new owner is paying a total of EUR 50m for the takeover of the Virtual Minds subsidiary. My Loc offers cloud, hosting and managed solutions and generated revenues of EUR 16m in 2019 with an EBIT of EUR 4m, corresponding to an EV/EBIT 12.5x.
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