Datatec Limited, a South African ICT company, has agreed to acquire Australian data company called Corpnet through Logicalis, its subsidiary company.
The South African company is now set to spread its portfolio offerings across Europe and Australia following the new acquisition.
Jens Montanana, Datatec’s Chief Executive said the addition of the company’s Australian business expands Datatec’s existing offerings and brings forth important complementary skills and resources.
“We can now deliver new cloud-based services and a stronger end-to-end managed services portfolio to the Australian market,” he added.
On completion, the acquisition will cost Logicalis US$2.7 million with potential earn-out payment of $600,000. Earn-out payment will be given to Corpnet basing on the company’s annual performance.
Logicalis is an international provider of integrated information and communications technology (ICT) solutions and services founded on a superior breadth of knowledge and expertise in communications and collaboration.
Datatec Limited is primarily focused on delivering services in ICT and the addition of Corpnet is set to enlarge the cloud data business. Currently, the company has operations in 40 countries with three subsidiary companie: Westcon Group, Logicalis and Analysys Mason and Intact.
Corpnet has over the years realized profits of $20 million yearly and its one of the top cloud service company in Australia.