QSC boosts software and development competence by taking over software engineering specialist Incloud

- QSC takes over fast-growing IT service provider that specialises in developing cloud solutions, mobile apps and IoT products
- Incloud will expand and extend QSC's range of services

Cologne/Darmstadt, 22 July 2020. QSC AG is taking over 100 percent of Incloud Engineering GmbH, Darmstadt, as of 31 July 2020 and is thus boosting its software competence. Incloud, which develops cloud and web solutions, mobile apps and IoT products, has in recent years established itself as a rapidly growing IT service provider. Incloud plans to generate revenues of more than € 4 million and positive earnings in the current financial year. The parties have agreed to maintain confidentiality as to the purchase price.

QSC and Incloud complement each other perfectly

Jürgen Hermann, QSC's CEO, explains: "Incloud is a perfect fit for our business. By offering joint solutions, we can support German SME players as they head for a digital future." Incloud's front-end, software and development competence perfectly complements QSC's platform, cloud and sales expertise. More than 60 experts at Incloud will boost QSC's team, particularly when it comes to developing sector solutions and integrating these into modern cloud architectures.

Incloud stands to benefit from QSC's established sales and user support structures, as well as from its cutting-edge cloud infrastructure. According to David Müller, Incloud's Managing Director, this offered enormous opportunities: "Joining forces with QSC will enable us to grow even faster than before and offer all-round support to our customers."

Agile project teams drive innovation

At Incloud, experts from a variety of disciplines work together in agile project teams to develop and implement digital business models. They rapidly advance innovations to market maturity, most recently an IoT platform for remote machine monitoring and a measurement result processing app. Incloud's Managing Director David Müller is convinced: "With QSC, we will be able to offer an even broader range of services to our customers. QSC's strengths ideally complement our own development competence."

Jürgen Hermann, QSC's CEO, is thrilled by the cooperation: "Joint teams will implement digitalisation projects along the entire value chain. We will also significantly and visibly boost our software competence in a market where development experts are in short supply." This takeover also marked a further milestone in QSC's consistent implementation of its "2020plus" growth strategy. As Hermann points out: "Incloud represents an ideal addition to the important field of smart products and enterprise apps. Not only that, it will contribute to our profitable growth from day one."

About QSC AG:
QSC AG is digitalising the German SME sector and enabling its customers to enhance their business processes and business models with the utmost flexibility and efficiency. QSC has longstanding technological and application expertise in the fields of Cloud and Colocation, SAP and the Internet of Things. Its extensive service portfolio provides exactly what SME players need as they move into the digital age: from standardised pay-as-you-use services through to individualised full-range solutions for the retail, manufacturing and energy sectors. All services offer end-to-end quality and high security. QSC bases its relationships with customers on an entrepreneurial approach, a service-driven mindset and a desire to forge mutually beneficial partnerships. QSC AG is based in Cologne and has around 900 employees at locations throughout Germany.

Contact:
QSC AG
Arne Thull
Head of Investor Relations/Mergers & Acquisitions
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