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Datatec grows Latin American footprint

Nov 09 2012 17:32 I-Net Bridge

Company Data

DATATEC LIMITED [JSE:DTC]

Last traded 53.25
Change 1.25
% Change 0.02
Cumulative volume 99908
Market cap 10.50bn

Last Updated: 23/04/2014 at 01:57. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg -  Global technology group Datatec [JSE:DTC] announced on Friday that its subsidiary Logicalis had acquired the Colombian and Ecuadorian operations of Cibercall.

“The acquisition further builds Logicalis’ presence in Latin America‚ combining Cibercall’s local market knowledge and strong customer relationships with Logicalis’ existing information and communications technology solutions portfolio‚ technical expertise and sound financial position‚” Datatec said.

While the cash consideration was not disclosed‚ the acquisition would be made by Logicalis’ 60%-held subsidiary Promon Logicalis Latin America.

Datatec said Cibercall’s main vendor partner was Cisco Systems‚ and the acquisition “strengthens the already strong Logicalis - Cisco relationship”.

Cibercall’s solutions portfolio includes implementation‚ support‚ training‚ help desk and managed services. The company has 45 employees and achieved unaudited revenues in excess of $12m in its financial year ended December 31 2011.

Datatec CEO Jens Montanana said Cibercall’s solution offering and skill base was “highly complementary” to Logicalis.

“This acquisition extends Logicalis’ Latin American footprint and will enable the business to pursue a broader range of commercial and telecoms customer opportunities in the region‚” Montanana said.

Avior Research analyst Dirk Noeth said the acquisition fitted well with Datatec’s strategy of expanding into better growth regions‚ and moves into South America were “not surprising”.

The acquisition would expand Datatec’s capacity and offering in Latin America‚ Noeth said.

Last month‚ Datatec said its revenue forecast for the 2013 financial year remained unchanged‚ despite the increasingly uncertain economic outlook.

Datatec said at the time it expected revenue of between $5.5bn and $5.8bn for the year to February next year‚ compared to revenue for the year to February this year of $5.03bn.

Montanana said last month the diversity of the business streams and its global footprint "continue to be strong assets‚ allowing the group to deliver a relatively strong performance against a disappointing market".

While Datatec’s organic revenue growth slowed in all regions‚ it benefited from its strategy of expansion into higher-growth markets and a strong first-half performance from Logicalis‚ the company said last month.
 
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