JSE-listed Hudaco Industries has acquired two businesses to complement its existing offerings in a deal valued at up to R111-million.
Hudaco, which will pay an initial combined R28-million, will absorb voice and data solution provider SST Telecoms and core information technology systems and infrastructure provider Commercial ICT, effective December 1.
The final total consideration, to be paid out of existing facilities and future cash flow, will depend on the average profits over a three-year earn-out period.
SST specialises in PBX, communication management software, voice recording, handsets and telephone management, provides mobile technology solutions and manufactures certain specialised products for fleet management and voice routing.
Meanwhile, Commercial ICT has exclusive agencies for the supply, management and maintenance of communication products for the security industry, besides others, as well as their infrastructure within cellular networks in South Africa and certain African countries.