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Datatec to buy Comztek for R88m

Nov 30 2012 10:57

Company Data

DATATEC LIMITED [JSE:DTC]

Last traded 54.15
Change 0.55
% Change 0.01
Cumulative volume 391825
Market cap 10.68bn

Last Updated: 24/04/2014 at 04:21. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Datatec [JSE:DTC] said on Friday it will buy Comztek Holdings, a major hardware and software distributor in Africa, for R88m.

Comztek is a leading systems distributor with coverage in 26 countries in Africa with operations in South Africa, Namibia, Zambia, Kenya and Mauritius.

It distributes a range of hardware and software products focused on networking, security and storage, datacentre and software infrastructure and unified communications solutions.

Comztek has annual revenues in excess of R1bn and more than 200 employees.

Datatec will acquire 100% of Comztek from its current shareholders who include Mustek Limited and various members of the management team through family and employee trusts.

"This is an exciting opportunity to create a market leadership position across the continent which will extend and augment our existing emerging Africa and South African operations and bring strong business with an excellent reputation into the group.

Comztek brings a complimentary vendor portfolio that has minimal overlap with Westcon's own vendor portfolio, thereby adding strong new vendor relationships, along with highly skilled and experienced staff that will allow us to widen our offering to our respective customer bases.

With revenues across Africa exceeding $300m the combined business will boast the scale and addressable market to attract new vendors wishing to create a regional presence,” said Jens Montanana, Datatec's CEO.

 
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