JSE-listed multinational IT group Datatec has wrapped up its acquisition of Asia-Pacific’s Netstar Group and has issued 5,4m new shares to pay for the transaction, it told shareholders on Monday.
The deal, worth nearly US$20m and announced on 8 December, will result in Datatec entering the Chinese market for the first time. NetStar also does business in Australia, Taiwan, Malaysia and Singapore.
NetStar will be folded into Logicalis, Datatec’s infrastructure solutions and services business.
Datatec said in December that NetStar is “one of the most established independent providers of network integration and managed services across the Asia-Pacific region” and has customers in government, telecommunications, hospitality and financial services.
Datatec CEO Jens Montanana (pictured) said last month that the acquisition would allow Logicalis to “grow organically and by acquisition across the regions”.
NetStar has forecast revenue of $70m and earnings before interest, tax, depreciation and amortisation of $6,5m for the financial year to end-June 2010. — Staff reporter, TechCentral