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MMG - MICROmega Holdings Limited - MICROmega acquires controlling interest

Release Date: 01/02/2012 13:18
Code(s): MMG
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MMG - MICROmega Holdings Limited - MICROmega acquires controlling interest in MIS Consulting MICROmega Holdings Limited (Registration number 1998/003821/06) (Incorporated in the Republic of South Africa) ISIN code:ZAE000034435 Share code: MMG ("MICROmega") MICROmega ACQUIRES CONTROLLING INTEREST IN MIS CONSULTING MICROmega Holdings Limited (MMG) has acquired a controlling interest in MIS Consulting (Pty) Ltd ("MIS"). MIS provides a unique customer to business, and business to business enterprise communication service using SMS. According to Greg Morris, Chief Executive Officer of MICROmega, "MIS`s product offering is unique in that the business provides a fully integrated platform of communication between businesses and their customers. The traditional model of down-stream communication from an enterprise to its customer base, whilst effective, can often be viewed as cumbersome, limited and in some instances downplayed as "spam". Our service offering is industry and customer specific and by using the largest medium of communication availabe today (SMSing) we are able to allow businesses to professionally receive, mananage and respond to customer requirements. It further tracks and allows for the monitoring of consumer trends and consumer behaviour." MIS has to date launched it`s product, namely Coretalk, through distribution partners in South Africa, Columbia and Costa Rica. Morris states "Our decision to invest in MIS was motivated by the scalability of the product both in its current markets as well as new regions where the business has received demand for its product. What MIS needed was the infrastructure, both financial and technical, to take up these opportunities. MICROmega has delivered on both of these and we believe we will enjoy an immediate earnings contribution from the business albeit initially small and scaling over the next two years to fall in line with our shareholders expectations." MIS will be integrated into the broader product offerings currently being provided by MICROmega`s connectivity and cloud computing business units. The acquisition, due to its size, is not a categorizable transaction for the purposes of the JSE Listings Requirements. 1 February 2012 Sandton Sponsor Java Capital Date: 01/02/2012 13:18:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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