DATATEC LIMITED - Completion of Coasin Chile acquisiton

Release Date: 04/09/2018 08:00
Code(s): DTC
 
Wrap Text
Completion of Coasin Chile acquisiton

Datatec Limited
(Incorporated in the Republic of South Africa)
(Registration number: 1994/005004/06)
ISIN: ZAE000017745
Share Code: DTC
("Datatec")

COMPLETION OF COASIN CHILE ACQUISITON

Datatec, the international Information and Communications Technology (ICT) company,
announces that its subsidiary Logicalis Group Limited ("Logicalis") has completed the acquisition
of 100% of the issued share capital of Coasin Chile S.A. ("Coasin") (the "Acquisition"). The
Acquisition was announced on SENS on 15 May 2018, and it was communicated that the
Acquisition was subject to certain third party consents as well as approval by the Chilean
Competition Authorities. Those consents and approvals have now been obtained and the
transaction closed on 3 September 2018.

Coasin is a provider of ICT support and managed services, networking, and POS solutions with a
strong position in the mining and financial services verticals. Coasin had an annual turnover of
US$84.4 million, profit after tax of US$2.8 million, and net assets of US$12 million for the twelve
months ended 31 December 2017. The Acquisition is expected to be earnings enhancing.

Logicalis has settled the consideration in cash from its own resources.

The Acquisition will bring significant capabilities and scale to Logicalis’ existing operations in
Chile and Peru. Coasin’s experience in the mining and financial services verticals creates
opportunities for Logicalis to better serve its multinational clients while broadening its services
scope to new customer groups.


Johannesburg
4 September 2018

Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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