Internet Solutions’ MWEB acquisition given the thumbs up by CompCom
The Competition Commission has recommended the approval of Internet Solutions’ acquisition of MWEB.
Internet Solutions is a subsidiary of Dimension Data, and announced the deal on 2 December 2016.
The recommendation to the Competition Tribunal is subject to public interest conditions relating to employment, it said.
The Commission found that the proposed transaction is unlikely to substantially prevent or lessen competition in any market.
In the event that the merging parties proceed with retrenchments, they must ensure that they follow the applicable Labour Relations Act processes.
Saki Missaikos, MD of Internet Solutions, said MWEB will run as a separate entity if the acquisition is approved.
“MWEB is one of South Africa’s largest consumer ISPs and this acquisition will immediately give Internet Solutions a presence in the large and rapidly-growing consumer market,” said Missaikos.
Internet Solutions told MyBroadband the strategy of its consumer ISP and Wi-Fi provider AlwaysOn remains as-is, and it is business as usual for the company.
MWEB’s enterprise Internet service provider division, MWEB Business, was acquired by Internet Solutions in 2014 for R368 million.
Since then, MWEB Business has been rolled into Ignite, a combination of MWEB Business, IS Ignite, and IS Direct.
Loading ...