In a move that is unlikely to be well received by investors, EOH Holdings said on Wednesday that it will delay publication of its interim financial results by three weeks.
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Dimension Data senior managers are approaching lenders and investors to raise cash for a possible deal for the group’s Africa and Middle East operations, which could be valued at about $800-million.
Something big is going on at Dimension Data. The IT services group’s Middle East and Africa operations could soon be listed on Johannesburg’s stock exchange, if speculation swirling through the IT industry is correct.
The US software giant has issued a stern “no comment” to accusations that it hired a former senior national treasury official in order to secure a contract to supply software for a major overhaul of the South African government’s IT systems.
JSE-listed technology group Altron plans to move out of its staid corporate offices in Parktown to a new, 29 000sq m campus in Woodmead, north of Johannesburg, being developed by Growthpoint Properties.
German software giant SAP and EOH affiliate company Twenty Third Century Systems have been accused of bribery to secure a multimillion-dollar software contract in Tanzania.
EOH Holdings has suspended some employees involved in deals being reviewed by its lawyers after an anonymous complaint prompted Microsoft to cancel partnership agreements with the JSE-listed IT company.
EOH CEO Stephen Van Coller sent a letter to employees, clients and shareholders on Friday, reflecting on what has been a week from hell for the JSE-listed IT services group. Read it here.
EOH Holdings CEO Stephen van Coller is in a race against the clock to restructure the sprawling South African IT business before shareholders and lenders run out of patience.
Corruption will be “dealt with” and anyone at EOH involved in unethical business practices will not get away with it, the IT services group’s CEO, Stephen van Coller, warned on Wednesday.