Datatec Limited Logicalis to acquire a majority stake in PSI (5639I)
June 20 2017 - 1:00AM
UK Regulatory
TIDMDTC
RNS Number : 5639I
Datatec Limited
20 June 2017
20 June 2017
Datatec Limited
Logicalis to acquire a majority stake in Packet Systems
Indonesia
Datatec Limited ("Datatec"), the international Information and
Communication Technology (ICT) group, announces that its subsidiary
Logicalis Group Limited ("Logicalis"), and its Indonesian partner
Metrodata, have agreed to acquire a majority stake in Packet
Systems Indonesia ("PSI"), a leading ICT systems integrator and
service company. PSI will be integrated with Logicalis Metrodata
Indonesia ("LMI"), the existing Indonesian operation of
Logicalis.
PSI is a Cisco Gold Partner specialising in data centre,
collaboration, information security solutions as well as Service
Provider & Enterprise Network. Established in 2004, PSI has
built a strong business in the telecommunications ("telco")
sector.
PSI's 2016 revenues were $77.4 million and profit before tax was
$4.9 million. Net assets at 31 December 2016 were $11.1 million and
PSI has 240 employees.
The acquisition will be effected by Logicalis acquiring 54% of
PSI and Metrodata acquiring a 14% shareholding. The remaining 32%
will continue to be held by PSI management shareholders. The total
consideration payable by Logicalis will be $6.8 million in cash
funded from Logicalis' existing bank facilities.
The Indonesian telco sector is the fourth largest in the world
and the ICT market is continuing to show strong growth. The
transaction will bring additional scale and new customer
relationships to Logicalis' Indonesian operation and provide an
opportunity to leverage PSI's telco skills and experience in other
Logicalis locations across the region. Logicalis' newly established
Security Managed Service practice in the Asia Pacific region, based
out of Singapore, will support new service offerings to customers
in Indonesia.
Through this transaction, PSI will also bring its own portfolio
of digital solutions and services to existing and new customers, in
both the telco and enterprise markets, such as Internet of Things,
software defined technologies and data analytics.
Jens Montanana, Datatec Chief Executive Officer, commented:
"This acquisition is strategically important for Logicalis as it
will serve to enhance its operations beyond Indonesia and across
the Asia Pacific region. Blending Logicalis' methodology and
experience with PSI's scale and customer reach will bring wider
scale and customer relationships across a number of high growth
regional markets."
The transaction is expected to close in the third calendar
quarter of 2017.
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/Pietman Roos
(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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