{"id":188377,"date":"2017-07-27T08:45:43","date_gmt":"2017-07-27T06:45:43","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=188377"},"modified":"2017-07-27T08:53:41","modified_gmt":"2017-07-27T06:53:41","slug":"convergence-partners-pulls-out-of-dimension-data","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/188377\/convergence-partners-pulls-out-of-dimension-data\/","title":{"rendered":"Convergence Partners pulls out of Dimension Data"},"content":{"rendered":"

Convergence Partners Investments – an investment firm focused on the TMT sector in Africa – has announced that it has exited its investment in specialist IT services and solutions company, Dimension Data.<\/p>\n

In a statement on Thursday, the group said that the term of its investment contract with\u00a0Dimension Data came to an end, and it decided to pull out.<\/p>\n

Convergence Partners first invested in Dimension Data in 2004 as part of the latter’s original B-BBEE transaction and remained invested until June 2017.<\/p>\n

“The contractual investment term ended in September 2016 and Convergence Partners and Dimension Data negotiated a consensual exit to the investment,” it said.<\/p>\n

Convergence Partners said it has now fully exited its shareholding in Dimension Data, and as a result, Convergeance Partners’ chairman, Andile Ngcaba, has stepped down from the various group boards on which he served and as executive chairman of Dimension Data.<\/p>\n

“Convergence Partners continues to invest in TMT companies across sub-Saharan Africa that it believes will deliver enhanced returns for investors, while underpinning continental development,” it said.<\/p>\n

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Read:\u00a0Dimension Data picks up remaining stake in Britehouse<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Convergence Partners Investments has announced that it has exited its investment in specialist IT services and solutions company, Dimension Data.<\/p>\n","protected":false},"author":10,"featured_media":188397,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[],"class_list":["post-188377","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/188377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=188377"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/188377\/revisions"}],"predecessor-version":[{"id":188389,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/188377\/revisions\/188389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/188397"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=188377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=188377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=188377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}