Technology17.01.2008
DVT
Dynamic Visual Technologies (DVT) had agreed to buy a 66.7 percent stake in software development company Offline Digital for R1.4 million, the AltX-listed software company said yesterday.
Offline Digital has clients in South Africa, the UK and Europe. The transaction would be paid in cash, of which DVT has R5.4 million.
DVT said the transaction was in line with its strategy to grow through acquisitions, and it included an option to buy the remaining shares in Offline Digital in 2010. It said Offline Digital's growth was limited by its small size and lack of black empowerment credentials.
DVT's clients include Vodacom, MTN, Old Mutual, WesBank, Truworths, Woolworths and Mortgage SA.
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