DTC
DTC
DTC - Datatec Limited - Logicalis agrees to acquire Australian IT Solutions
Provider, Corpnet
DATATEC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
LOGICALIS AGREES TO ACQUIRE AUSTRALIAN IT SOLUTIONS PROVIDER, CORPNET
Datatec Limited ("Datatec", JSE/AIM: DTC), the international Information and
Communications Technology (ICT) group, announces that its subsidiary Logicalis
has agreed to acquire Corpnet, a Brisbane-based provider of IT solutions
including data centre, cloud and managed services solutions, to the Queensland,
Australia mid-sized and enterprise markets.
The acquisition consideration comprises $2.7m on completion with an additional
potential earn-out payment of $0.6m and is contingent upon approval by the
seller`s shareholders.
Corpnet has annualised revenues of approximately $20 million and has become one
of the leading datacentre services and managed services providers in Queensland.
Its service offerings, skill base and vendor accreditations will build upon
Logicalis` existing datacentre and managed services expertise in Australia.
Jens Montanana, Datatec`s Chief Executive commented:
"This addition to our Australian business expands our existing offering and
brings important complementary skills and resources. We can now deliver new
cloud-based services and a stronger end-to-end managed services portfolio to the
Australian market."
Enquiries:
Datatec Limited
(www.datatec.co.za)
Ivan Dittrich - Chief Financial +27 (0) 11 233 1221
Officer
Jefferies Hoare Govett - Nominated Advisor and Broker
Nick Adams/Tom Rider +44 (0) 20 7029 8000
finnCap - Broker
Tom Jenkins/Henrik Persson +44 (0) 20 7220 0500
College Hill
Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020
Frederic Cornet (SA) +27 (0) 11 447 3030
Sandton
2 May 2012
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 02/05/2012 07:05:06 Produced by the JSE SENS Department.
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