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One of Europe’s largest media companies just sold its web hosting division

(Image credit: Shutterstock / NicoElNino)

German media behemoth ProSiebenSat.1 has announced it will sell its web hosting division to Italian cloud service provider WIIT for an estimated €50 million (around $59 million/AU$82 million/£46 million).

myLoc offers an array of solutions that cater to the needs of both medium businesses and large enterprises, including colocation, dedicated server hosting, managed hosting and cloud hosting, with cloud backup, IaaS and Microsoft 365 also included in the offering.

Its five data centers (and one business continuity site) are based in Dusseldorf, can accommodate 65,000 servers, come with an ISO 27001 certification and fall under German data protection laws, which are some of the most stringent in Europe.

Its five data centers (and one business continuity site) are based in Dusseldorf, can accommodate 65,000 servers, come with an ISO 27001 certification and fall under German data protection laws, which are some of the most stringent in Europe.

Advanced Television reports that MyLoc generated around €16 million with EBITDA of €4 million in the last financial year, with 300 colocation customers and over 37,000 square feet of data center space.

According to a spokesperson for Deutsche Bank, “the sale comes at an attractive multiple which we view as a positive. Based in Düsseldorf, MyLoc was a subsidiary of Virtual Minds which would now focus on core ad-tech solutions.”

myLoc is WIIT’s first international acquisition, and was hailed by company CEO Alessandro Cozzi as a transformational transaction - one that will allow his firm to “create the European leader in the cloud for business critical applications”.