Browsing: MB Technologies

JSE-listed Pinnacle Technology Holdings has offered to buy distribution business Axiz Technology for R170m in a deal that could see it become the largest IT distributor in the country. In a statement to shareholders on Tuesday morning, Pinnacle revealed its decision to make the offer to Axiz, which is expected to merge with Pinnacle’s Workgroup business.

MB Technologies co-founder Leo Baxter has sold his 45% stake in the IT distribution business to Investec Bank for an undisclosed sum. The company says Baxter has decided to focus all his efforts on his medical recovery following a polo accident in 2007 which left him paralysed. The treatment has produced encouraging results and Baxter has regained some movement.