Information technology group Dimension Data (Didata, DDT) announces that it will acquire Worldwide African Investment's 51% interest in telecoummications group Plessey for R120 million in cash. Plessey has undertaken projects in 19 African countries with regional offices currently in eight countries: South Africa, Nigeria, Democratic Republic of Congo, Uganda, Tanzania, Malawi, Zambia and Mauritius.
Plessey employs over 250 people across South Africa, Nigeria and East Africa.
The complementary nature of Didata's and Plessey's skills and experience, together with Plessey's established African footprint, provided a strong market offering to the telecommunications industry throughout the continent, Didata said.
Didata has held its existing 49% shareholding in Plessey since 1998.
As at 31 March 2005, Plessey had gross assets of R406.1 million and generated turnover of R890 million and profit before tax of R67.4 million during the year to March 31, 2005.
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