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1557210407000 | IR Press Release

Acquisition of Plusnet: EnBW extends its position in the German telecommunications market

Transaction further advances infrastructure strategy – Plusnet GmbH’s nationwide footprint and attractive business customer portfolio complement existing activities – Plusnet brand and company to retain their independent identity
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QSC's headquarters in Cologne, where Plusnet GmbH is also based. (Source: QSC AG)

Karlsruhe/Köln. With the acquisition of Plusnet GmbH from QSC AG signed yesterday, EnBW Energie Baden-Württemberg AG has taken a key step in building a strong position on the German national telecommunications market.

“The expansion of our telecommunications activities is part of our strategy of developing EnBW into a sustainable infrastructure provider,” said EnBW CEO Frank Mastiaux. “That includes areas such as electromobility, neighbourhood development and broadband, and hence also communications infrastructure.”

Köln-based Plusnet GmbH is a telecommunications company with operations throughout Germany and some 25,000 business customers. It possesses its own nationwide voice-data network and boasts many years of experience in operating all modern broadband technologies together with well-established sales channels. In 2018, the company generated revenue of over 200 million euros with an approximately 400-strong workforce. EnBW is acquiring the company in its entirety from QSC AG; the purchase price is some 229 million euros.

Through NetCom BW GmbH, the EnBW Group already has a strong market position focused on the state of Baden-Württemberg. NetCom BW operates one of the most extensive and highest-capacity fibre-optic networks in Baden-Württemberg, serving over 40% of the state’s municipalities. By way of a cooperation with GasLINE, NetCom BW also has access to GasLINE’s nationwide backbone infrastructure.

“With its nationwide footprint, attractive customer portfolio and strong sales and operations team, Plusnet GmbH ideally complements our existing activities,” explained Wolfgang Eckert, head of EnBW’s Infrastructure segment. “Similarly to NetCom BW, it pursues a highly promising integrated business model. We are confident that we can grow together and play an even stronger role in a market that is highly relevant for infrastructure and digitalisation – most of all also as partners to business, industry, local authorities and municipal utilities.” In terms of technology, Plusnet is already able to reach over half of all business customers in Germany with its products and solutions.

Under EnBW Telekommunikation GmbH – under which NetCom BW also operates – Plusnet will continue as an independent company at its existing locations with the same proven and highly capable team.

“We firmly believe that with their excellent strategic fit, and together with EnBW, Plusnet and NetCom BW will continue their successful development in the dynamic telecommunications market,” Eckert emphasised.

The transaction is expected to close in the third quarter of 2019, subject to approval by the German Federal Cartel Office and other usual closing conditions. The parties have agreed not to disclose further contractual details.

About EnBW

EnBW is one of the largest energy supply companies in Germany and Europe, and supplies electricity, gas, water and energy-related products and services to around 5.5 million customers with a workforce of 21,000 employees. EnBW pooled its telecommunications activities some months ago under a joint holding company, EnBW Telekommunikation GmbH.

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EnBW Energie Baden-Württemberg AG
Durlacher Allee 93
76131 Karlsruhe
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