Jasco to acquire Telesto Communications
JSE-listed electronics group Jasco on Thursday announced that it had entered into an agreement with phone system installation company ConvergeCom and call centre solutions provider Telesto Communications under which Jasco would acquire 100% of the issued share capital of Telesto as well as certain shareholder claims from ConvergeCom for a maximum consideration of R9.85-million.
CovergeCom had acquired Telesto, which had offices in Centurion and a presence in Cape Town, in October last year.
Jasco said as Telesto focused on providing call centre solutions, specifically for inbound and outbound applications in the collections, telemarketing and telesales industries, the acquisition provided the Jasco group with an opportunity to bolster its enterprise division with an additional service offering while also ensuring consolidation in the South African dialler industry and securing new clientele.
“Telesto has excellent blue chip customers, comprising major financial institutions and telecommunications operators, which complement the group’s customer base.
“Telesto is a profitable and well-established business and will not only enhance Jasco Enterprises’ annuity-type revenue but also add a strong, experienced management team, engineering skills and sales resources to the group’s current operations,” Jasco said in a statement.
The effective date of the transaction was expected to be May 1, 2014, subject to all the conditions precedent to the acquisition having been fulfilled or waived.
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