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Datatec plans to buy Comztek
| Rudolph Muller | September 2, 2010 | No comments |
Rudolph Muller
Rudolph Muller is the editor at MyBroadband and covers telecoms and broadband news. Rudolph comes from an academic background, but left the University of...
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ICT group Datatec has made an offer to purchase Comztek Holdings
Datatec Limited, an international Information and Communications Technology (ICT) group, has made a conditional offer to acquire 100% of the share capital of Comztek Holdings.for a total consideration of R97 million.
The consideration will be settled partly by cash and partly by the issue of Datatec and / or subsidiary shares.
Comztek is a South African based distributor of networking, security and other hardware and software products that are highly complementary to the activities of the Westcon Distribution business of Datatec in South Africa.
In addition, Comztek has operations in the rest of Africa that, when combined with Westcon’s pan-African footprint, could lead to the creation of a strategically significant player across many African markets.
“To date, management and all shareholders except for Mustek Limited have indicated their support for the transaction. Mustek Limited holds 41.84% of the share capital of Comztek. Datatec today has extended the acceptance date for the offer to 30 September 2010,” Datatec said in a press statement.
“The offer is conditional upon the satisfactory completion of due diligence and of various regulatory approval processes required for a transaction of this nature.”
