Datapro Group acquires Netralink
The consideration for the acquisition is 10.175 million rand to be settled by the issue to Netralink of a maximum of 18.5 million shares in DataPro at an issue price of 55 cents a share.
Netralink is an Internet Business Solutions Provider that supplies personalised electronic communication solutions to meet business processing requirements. The acquisition is strategically important for DataPro as it provides the company with a solid business incorporating a good customer base, is complementary to DataPro’s existing customer base and provides DataPro with an important asset in a rapidly consolidating market, it said.
The acquisition remains subject to the normal conditions precedent that would be applicable to a transaction of this nature, including the approval of the JSE and any other regulatory bodies, and approval by DataPro shareholders.
DataPro’s cautionary announcement was withdrawn.
I-Net Bridge
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