DHH acquires 100% of mCloud

Milan, 20 May 2021. DHH S.p.A. (“DHH”) (DHH.MI | WDHH21.MI) (ISIN shares IT0005203622 | ISIN warrants IT0005203689), the cloud computing provider of Southeast Europe, announces that today it has acquired the remaining 38% share of mCloud d.o.o. from Boško Radivojević (30%) and Jelena Opačić (8%) and thanks to this transaction DHH now owns 100% of mCloud d.o.o..

mCloud d.o.o. is the Serbian subsidiary involved in the cloud computing field with 661k EUR revenue (2020 official); it manages two brands, Plus hosting and mCloud, each targeting different customers.

As a consideration for the abovementioned deals, the amount is not relevant and the transaction is not classified as a substantial transaction (ref. “AIM Italia - Rules for companies”).

Matija Jekovec, COO of DHH SpA, comments: “The acquisition of the remaining share is the next step in evolution of both the entrepreneurs and mCloud d.o.o.. We’re happy to support the entrepreneurs on their path and even more pleased they will remain with the company. Their experience is invaluable and will help us to support our cherished Serbian customers.”

Boško Radivojević, Executive director of mCloud d.o.o., comments: “In these past few years with DHH, we managed to grow 100% and achieve great synergies by merging our cloud and hosting businesses under the same roof. I’m excited about our future and the innovation we will bring to the market.”

Jelena Opačić, Executive director of mCloud d.o.o., comments: “I’m proud we were able to build a single great team with a great culture in these last few years. I’m always amazed by how the team is able to be so efficient and at the same time make our customers feel special. I’m looking forward to further developing the mCloud into a synonym for quality and technological prowess.”