A unit of Blue Label Telecoms [JSE:BLU], which provides pre-paid cellular airtime, has acquired cellular data provider RMCS in a deal worth over R300m (about $30m), Blue Label said on Tuesday.
Blue Label said the deal, which will be funded from existing cash, will open new distribution channels.
Blue Label said its TPC unit would pay at least R306.6m for the business.
The deal should lift headline earnings per share by almost 5% to 67.31 cents per share, Blue Label said.
It shares were up 3.50% to R8.20, outperforming index, which was 0.40% higher.