JSE-listed Huge Group\u00a0 says it has signed an agreement to buy 100% of the issued share capital of\u00a0 Centracom, for R81.6 million.<\/p>\n
Huge Telecom, the principal operating subsidiary of Huge Group, provides communications services to corporate organisations and residential customers in South Africa.<\/p>\n
Centracom offers connectivity through DSL, Diginet, Fibre, LTE and Wireless and aggregates its connectivity from a number of networks into its MPLS core, allowing it to offer cost-effective pricing through economies of scale.<\/p>\n
Huge said that its proposed acquisition of Centracom is expected to result in an increase of\u00a0 20% in its customer base to more than 13,000 customers, and an increase of more than 50% in Huge\u2019s number of billed minutes.<\/p>\n
As at 28 February 2015, Centracom\u2019s net asset value was R2.08 million, it
\ngenerated profit after tax of R4.38 million and cash flow from operations of R8.68 million.<\/p>\n
Huge Group in acquisition talks<\/strong><\/a><\/p>\n Huge Group interim profit up<\/a><\/strong><\/p>\n Huge Group in R10 million MTN legal settlement<\/strong><\/a><\/p>\n