DATATEC LIMITED - Westcon acquires cloud services business Verecloud
4 September 2014 8:00
DTC 201409040006A
Westcon acquires cloud services business Verecloud

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
(“Datatec” or “the Group”)

Westcon acquires cloud services business Verecloud

Datatec Limited, the international Information and Communications Technology (ICT) group,
announces that Westcon Group (“Westcon”) has acquired the assets of US based Verecloud, Inc.
(“Verecloud”), the developer of an advanced channel distribution platform for cloud and services
solutions, for $12 million.

Established in 2006, Verecloud’s cloud services platform aggregates best-in-class cloud solutions and
services and acts as a brokerage providing businesses with complete access and control of all their
cloud applications from one portal. The platform will be incorporated into Westcon’s Cloud Solutions
Practice and form the foundation for its cloud go-to-market solution which is designed to help
resellers drive significant revenue from cloud-enabled services.

The acquisition consideration will be settled through the issue of Datatec shares in three tranches,
with the first tranche consisting of the allotment of 1,998,831 ordinary ZAR 0.01 shares. The second
and third tranches are dependent on a number of conditions and will become payable one and two
years after the transaction date, respectively. Applications have been made to the JSE and LSE for
the listing of the 1,998,831 first tranche shares, which is expected to become effective on 12
September 2014. After this issue, Datatec will have an issued share capital of 199,548,183 shares of
which 105,908 are Treasury shares.

Jens Montanana, Datatec's Chief Executive Officer commented:

“Verecloud enables Westcon to bring powerful channel-optimized cloud solutions and
services distribution capabilities to the market. Over the past 18 months, they have co-
developed a truly differentiated cloud go-to-market capability. They are well positioned
to leverage the potential that cloud has for technology vendors, and for resellers to
broaden their service solutions.”

4 September 2014

RAND MERCHANT BANK (A division of FirstRand Bank Limited)


Datatec Limited (
Jens Montanana – Chief Executive Officer                         +44 (0) 1753 797118
Jurgens Myburgh – Chief Financial Officer                        +27 (0) 11 233 3301
Wilna de Villiers – Group Marketing Manager                      +27 (0) 11 233 1013

Jefferies International Limited – Nominated Adviser and Broker
Nick Adams/Alex Collins                                 +44 (0) 20 7029 8000
finnCap – Broker
Tom Jenkins/Henrik Persson              +44 (0) 20 7220 0500

Instinctif Partners
Frederic Cornet/Bianca Samson (SA)       +27 (0) 11 447 3030
Adrian Duffield/Chantal Woolcock (UK)   +44 (0) 20 7457 2020

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