Adelaide, Dali Tambo, Langa and Khumalo buy fifth of EDS
The US company has sold 20% of its local arm to Bongani Khumalo, Mandla Langa, Dali Tambo and Adelaide Tambo.
The value has not been disclosed, but no third-party financing was needed to fund the deal. Another 10% of the shares will be put into an employee trust to benefit the staff.
Khumalo is a former Transnet chairman and the chairman of Grey Global Advertising. Langa is the former chairman of the Independent Communications Authority of SA. Dali Tambo, son of former ANC secretary-general Oliver Tambo, is a former television personality who formed Koketso Holdings to invest in mining and hi-tech companies. His mother Adelaide is involved as the leader of the Zwelonke Mothers Union, representing 45 women?s groups. Together they are operating as the Koketso Gravitas Consortium, formed specifically to invest in EDS.
EDS is the second-largest IT services company in the world after IBM. Khumalo said he was proud to be partnering with a global company of such a strong reputation. "We will be actively involved in the continued transformation of EDS SA and in introducing the world-class EDS offerings to the local market." A particular goal was to win more government work, he said.
Cortie Burton, MD of EDS SA, said the deal demonstrated a commitment to empowerment and to exceeding the required targets. EDS has had a chequered past both globally and locally.
INet-Bridge
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