Datatec buys European subsidiaries for $31m
JSE-listed information and communications technology group Datatec has expanded subsidiary Logicalis’ European footprint through the $31-million acquisition of Europe-based information technology (IT) services group 2e2’s subsidiaries.
The JSE- and Aim-listed group agreed to buy four IT businesses in Spain, Ireland, the Netherlands and the Channel Islands, said Datatec CEO Jens Montanana on Monday.
These comprised an IBM-focused system integrator operating under the Morse trade name; an IBM-, NetApp- and HP-focused provider of enterprise hardware and software solutions and services also operating under the Morse trade name; a provider of IT service management consulting services and solutions; and an HP- and Xerox-focused provider of managed services solutions.
“The acquisition of these four businesses immediately expands Logicalis’s European footprint and enables us to improve our offering to Logicalis’s multinational and Latin American clients. They also open service opportunities in new customer markets, which can be developed across the Logicalis group,” he said in a statement.
Over 500 employees from the 2e2 operations would be incorporated into Logicalis, including about 70 employees from certain 2e2 UK-based companies that Logicalis UK agreed to take over in addition to the acquisitions.
The businesses achieved combined unaudited revenues of about $150-million in the year ended December 2012 with unaudited earnings before interest, tax, depreciation and amortisation in excess of $8-million.
A combination of cash and the issue of Datatec shares would fund the acquisition.
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