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Acquisition of Freshmark Systems
MICROmega Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 1998/003821/06)
Share code: MMG ISIN: ZAE000034435
(“MICROmega”)
ACQUISITION OF FRESHMARK SYSTEMS
1. INTRODUCTION
The board of directors of MICROmega (“the Board”) is pleased to advise shareholders that MICROmega has
concluded an agreement to acquire a controlling stake (55%) in Freshmark Systems Proprietary Limited
(“Freshmark”), the leading provider of Information Management Systems, specifically designed for the South
African fresh produce markets (“the Acquisition”).
2. RATIONALE FOR THE ACQUISITION
Freshmark is set to augment the offering of Sebata Municipal Solutions (“Sebata”), a wholly owned
subsidiary of MICROmega. Sebata has provided integrated technology solutions, enterprise management
systems and multidisciplinary professional services to municipalities, public entities and provincial
government, for well over 40 years.
“Of the 14 municipal fresh produce markets in South Africa, 13 are utilising the information technology
solutions of Freshmark. An additional 9 private markets as well as markets in neighbouring countries benefit
from the technology. The Acquisition further extends MICROmega's footprint in the local government arena,
and is in line with MICROmega's strategy to grow its information technology group of companies” says Greg
Morris, Chief Executive Officer of MICROmega.
“With the recent publication by the National Treasury of the minimum specifications of enterprise
management solutions for local government, the Acquisition adds a valuable component to the already
formidable product offering which our clients enjoy” comments Dylan Strydom, Managing Director of Sebata.
“Sebata's Enterprise Management Solution is specifically designed to meet the expansive planning,
monitoring and evaluation requirements of local government. Specific emphasis is placed on system
integration, and real-time reporting requirements are vast. Municipal financial sustainability is imperative and
our solutions, inclusive of our Financial Management System and Sebata's wide range of solutions, which
support various revenue enhancement strategies, are becoming increasingly important in contributing to
such sustainability” says Strydom.
“Freshmark has been providing quality solutions to municipal markets for over 27 years, and the Acquisition
is without a doubt supplementary to solutions already being offered to municipalities by Sebata. Furthermore,
Freshmark has greater access to a host of technologies such as cloud computing, through Sebata. The
technology will be available to the Freshmark client base ensuring they remain on the cutting edge of
technology and can benefit from its many advantages” explains David Larkan, Managing Director of
Freshmark.
3. CLASSIFICATION OF THE ACQUISITION
The Acquisition, due to its size, falls below the transaction thresholds as set out in the Listings Requirements
of JSE Limited and therefore does not require any formal disclosure. However, the Board would like to
advise shareholders of this strategic acquisition.
Johannesburg
27 February 2014
Sponsor
Merchantec Capital
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