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Datatec Limited (DTC)

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Tuesday 10 October, 2017

Datatec Limited

Logicalis sells SMC consultancy operation

RNS Number : 2095T
Datatec Limited
10 October 2017
 

10 October 2017

 

Datatec Limited

 

Logicalis sells SMC consultancy operation

 

Datatec Limited ("Datatec"), the international Information and Communication Technology (ICT) group, announces that its subsidiary Logicalis Group Limited ("Logicalis"), has entered an agreement to sell its service management consultancy operation, Logicalis SMC ("SMC"), based in the Netherlands to DXC Technology (NYSE: DXC) for an undisclosed sum.

 

Logicalis acquired SMC on 4 March 2013 as one of the four European operations purchased from 2e2. Under Logicalis' ownership, the SMC business has grown significantly and now employs 184 people.

 

SMC will join the DXC Technology ServiceNow practice within Fruition Partners, a DXC Technology company and a leading global ServiceNow platform.

 

The transaction will enable Logicalis to continue to have a trading relationship with SMC whilst releasing funds to reinvest in Logicalis' core operations and further mergers and acquisitions (M&A) activity.

 

Jens Montanana, Datatec Chief Executive Officer, commented:

 

"This realisation represented outstanding value for us to divest a non-core business while allowing Logicalis' excellent business relationship with SMC to continue under new ownership."

 

This announcement is voluntary in terms of the JSE Listings Requirements and AIM Rules. The transaction size does not fall within the category requirements of the JSE Listings Requirements or the AIM class tests.

 

Enquiries:

 

Datatec Limited  (www.datatec.co.za)


 

Jens Montanana, Chief Executive Officer

Ivan Dittrich, Chief Financial Officer

+44 (0) 1753 797118

+27 (0) 11 233 3301

Wilna de Villiers, Group Investor Relations

+27 (0) 11 233 1013



Jefferies International Limited - Nominated Adviser and Broker

Nick Adams/Simon Hardy

+44 (0) 20 7029 8000



Instinctif Partners


Frederic Cornet/ Keagile Makgoba (SA)

+27 (0) 11 447 3030

Adrian Duffield/Chantal Woolcock (UK)

+44 (0) 20 7457 2020

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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