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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                         +44 (0) 1753 797118 
  Officer                                                +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

END

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October 10, 2017 08:00 ET (12:00 GMT)

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