Acquisition of European subsidiaries of 2e2 including Morse operations for Euro24m Datatec Limited (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC Acquisition of European subsidiaries of 2e2 including Morse operations for Euro24m Datatec Limited, (JSE/AIM: DTC, "Datatec" or the Group), the international Information and Communications Technology (ICT) group, announces that its subsidiary Logicalis Group Limited (Logicalis) has agreed to acquire the European subsidiaries of 2e2, excluding the UK business, for Euro24m ($31m) in cash. The consideration will be funded by a combination of cash and the issue of Datatec shares. Logicalis will acquire the business from the administrators of 2e2. In addition the UK operations of Logicalis have taken on certain business, together with approximately 70 employees, from the UK 2e2 companies currently in administration. The four separate businesses being acquired are in Spain, Ireland, the Netherlands and the Channel Islands: - An IBM focused system integrator in Spain operating under the Morse trade name with a strong enterprise managed services focus; - An IBM, NetApp and HP focused provider of enterprise hardware & software solutions and services in the Republic of Ireland operating under the Morse trade name; - A HP and Xerox focused provider of managed services solutions in the Channel Islands; and - A provider of IT service management consulting services and solutions in the Netherlands. Together these businesses achieved unaudited revenues of approximately $150m in the year ended 31 December 2012 with unaudited EBITDA of more than $8m. In total, over 500 employees from 2e2 operations will now be joining Logicalis. Jens Montanana, Datatec's Chief Executive commented: This acquisition of these four businesses immediately expands Logicalis European footprint and enables us to improve our offering to Logicalis multi-national and Latin American clients. They also open service opportunities in new customer markets which can be developed across the Logicalis group. We are also pleased to welcome the new employees to the Group. Enquiries: Datatec Limited (www.datatec.co.za) Jens Montanana, Chief Executive Officer +44 (0) 1753 797118 Rob Evans Chief Financial Officer +27 (0) 11 233 1221 Wilna de Villiers Group Marketing Manager +27 (0) 11 233 1013 Jefferies International Limited Nominated Advisor and Broker Nick Adams/Alex Collins +44 (0) 20 7029 8000 finnCap Broker Tom Jenkins/Henrik Persson +44 (0) 20 7220 0500 College Hill Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020 Frederic Cornet/Lexi Ball (SA) +27 (0) 11 447 3030 Sandton 4 March 2013 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 04/03/2013 07:05:00 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.