EnBW closes acquisition of Plusnet
Karlsruhe/Cologne. EnBW Energie Baden-Württemberg AG has completed the acquisition of Plusnet GmbH from QSC AG. Following approval by the German Federal Cartel Office, the transaction was closed with effect from 30 June. The acquisition marks a key step for EnBW in building a strong position in the German national telecommunications market.
Expansion in this segment is an express component of EnBW’s strategy of developing into a sustainable infrastructure provider. “With its attractive nationwide customer portfolio and strong sales and operations team, Plusnet ideally complements our existing activities,” explained Wolfgang Eckert, head of EnBW’s Infrastructure segment. “Our dealings in the past weeks have further strengthened our conviction that Plusnet and our subsidiary NetCom BW can grow together and play an even stronger role in the market. We were impressed with the openness with which we were received and by the spirit of the Plusnet team.”
As stated when the transaction was first announced, Plusnet will retain its corporate and brand identity as well as its locations. There is also continuity at management level: “We very much look forward to working with Dr. Jürgen Mattfeldt, Markus Hendrich and Bert Wilden,” Eckert said. The management team will additionally be joined by Bernhard Palm, Managing Director of NetCom BW. Plusnet customers will be notified of the change of ownership in the days ahead.
Cologne-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.
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 south-western municipalities.
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.