Business Connexion’s Integr8 IT acquisition approved by Commission
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Johannesburg,leading system integrator Business Connexion, through its UCS Solutions (Pty) Ltd division, has finalised its 100% acquisition of ICT management specialist firm Integr8 IT, part of the Integr8 Group for an estimated R126 million. The initial acquisition was pending an approval from the Competition Commission, which has now confirmed that all conditions of the transaction have been met.
The total purchase consideration will be settled through an initial cash payment of R56 million, with the balance of R70 million payable as earn-out payments, over three years.
Integr8 IT is one of the largest privately owned ICT managed services companies on the African continent. It was established in 2001 and is a leader of annuity based infrastructure management and managed services to the mid-market corporate throughout South Africa and Africa. The company owns and operates the only African based Nerve Centre®, a digital hub of people, technology and process, that regulates, monitors and maintains the technology infrastructure for many leading corporations.
Read more about this here http://www.bcx.co.za/in_the_news/business_connexions_integr8/
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