JSE-listed multinational IT group Datatec has sold 26% of its SA distribution business, Westcon SA, to the Mineworkers Investment Company for R28m.
The group, headed by CEO Jens Montanana, has bought out the 25,1% minority stake in Westcon SA previously held by African Legend Computing for R20m. The R20m offer price is made up of R7m in new Datatec shares, with the balance of R13m settled in cash.
Datatec is actively looking for ways to expand the growth of its distribution business in SA. Earlier this year it attempted to buy Comztek. However, majority shareholder Mustek rejected the R101m bid. — Staff reporter, TechCentral