Logicalis, a subsidiary of JSE-listed multinational IT group Datatec, has agreed to buy the European subsidiaries, excluding the UK business, of 2e2 for €24m (US$31m) in cash and new shares.
Logicalis will acquire the business from the administrators of 2e2. In addition, the UK operations of Logicalis have taken on certain business, together with approximately 70 employees, from the UK 2e2 companies currently in administration, Datatec says in a statement to shareholders.
The four separate businesses being acquired are in Spain, Ireland, the Netherlands and the Channel Islands:
- An IBM-focused system integrator in Spain operating under the Morse trade name with a strong enterprise managed services focus.
- An IBM-, NetApp- and Hewlett-Packard-focused provider of enterprise hardware and software solutions and services in the Ireland operating under the Morse trade name.
- An HP- and Xerox-focused provider of managed services solutions in the Channel Islands.
- A provider of IT service management consulting services and solutions in the Netherlands.
Together, the businesses achieved unaudited revenues of about $150m in the year ended 31 December 2012, with unaudited earnings before interest, tax, depreciation and amortisation of more than $8m, according to Datatec. In total, 500 employees from 2e2 operations will join Logicalis.
“This acquisition of these four businesses immediately expands Logicalis’s European footprint and allows us to improve our offering to Logicalis’s multinational and Latin American clients,” says Datatec CEO Jens Montanana in a statement. “They also open service opportunities in new customer markets which can be developed across the Logicalis group.” — (c) 2013 NewsCentral Media
