DTC - Datatec Limited - Logicalis agrees to acquire Australian IT Solutions
2 May 2012 7:05
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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