QSC completes Plusnet spin-off; explores stake sale

21 Sep 2018

Cologne-based ICT firm QSC has confirmed that the previously announced spin-off of its Plusnet ISP unit was completed on 31 August 2018. The company notes that all products for resellers and corporate customers have been transferred from QSC’s ‘Telecommunications’ business unit to Plusnet, as have the relevant contractual relationships with customers, partners and suppliers. The legal name of the new business is Plusnet GmbH. Jurgen Hermann, CEO of QSC, commented: ‘Due to the advance of digitisation, we are seeing greater dynamism in the telecommunications market. Demand for secure and stable network services is on the increase, the new fibre optic networks being put in place by local authorities have to be operated and smart city concepts are becoming reality. For us, it is now about exploiting this market potential.’

Going forward, however, QSC has revealed that it is exploring the sale of a majority stake in Plusnet. An announcement to investors (dated 18 September) notes: ‘After various enterprises with business models complementing the business model of Plusnet GmbH have expressed their interest in acquiring Plusnet GmbH, the management board of QSC has decided, with consent of the supervisory board granted today, to enter into discussions with suitable investors regarding this strategic option.’

Germany, Plusnet (Germany), QSC