Logicalis to acquire a majority stake in Packet Systems Indonesia
JSE-listed ICT group Datatec says that its subsidiary Logicalis Group, and its Indonesian partner Metrodata, have agreed to acquire a majority stake in Packet Systems Indonesia.
PSI will be integrated with Logicalis Metrodata Indonesia, the existing Indonesian operation of Logicalis.
Established in 2004, PSI is a Cisco Gold Partner specialising in data centre, collaboration, information security solutions as well as Service Provider & Enterprise Network.
PSI’s 2016 revenues were $77.4 million and profit before tax was $4.9 million. Net assets at December 31, 2016 were $11.1 million and PSI has 240 employees.
The acquisition will be effected by Logicalis acquiring 54% of PSI and Metrodata acquiring a 14% shareholding. The remaining 32% will continue to be held by PSI management shareholders.
The total consideration payable by Logicalis will be $6.8 million in cash funded from Logicalis’ existing bank facilities.
Through this transaction, PSI will also bring its own portfolio of digital solutions and services to existing and new customers, in both the telco and enterprise markets, such as Internet of Things, software defined technologies and data analytics.
The transaction is expected to close in the third quarter of 2017.
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