South African based Dimension Data Holdings' has announced the acquisition of the outstanding 24 per cent of its Australian based subsidiary Com Tech communications.
Reports today reveal that the outstanding 24 per cent interest in Com Tech Communications was acquired by Dimension Data for approximately $US144 million.
The consideration comprises a cash payment of US$63 million and the issue of 9.3 million new Dimension Data shares. The final purchase price is subject to earn-out arrangements and is conditional upon Com Tech achieving future profit and margin targets.
The final leg in this Australian acquisition is the latest in a long list of purchases which have taken the groups operations to over 30 countries on six continents.
This latest acquisition leg will see Dimension Data take control of Com Tech operations in providing multiservice networks, operating systems, messaging and interactive services such as online and e-business, call centres.