{"id":27653,"date":"2012-11-30T09:19:19","date_gmt":"2012-11-30T07:19:19","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=27653"},"modified":"2012-11-30T13:20:18","modified_gmt":"2012-11-30T11:20:18","slug":"datatec-snags-ict-firm-comztek","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/it-services\/27653\/datatec-snags-ict-firm-comztek\/","title":{"rendered":"Datatec buys ICT firm Comztek"},"content":{"rendered":"

Datatec<\/a>\u00a0is set\u00a0to acquire Comztek<\/a>, an\u00a0ICT and networking distributor in Africa, for a consideration of\u00a0R88 million.<\/p>\n

Comztek\u00a0has coverage in 26\u00a0countries in Africa with operations in South Africa, Namibia,
\nZambia, Kenya and Mauritius.<\/p>\n

It distributes a range of hardware\u00a0and software products focused on networking, security and storage,\u00a0datacentre and software infrastructure and unified communications\u00a0solutions.<\/p>\n

Comztek has annual revenues in excess of R1 billion\u00a0and more than 200 employees, and based in\u00a0Johannesburg, its activities will compliment to those of\u00a0Datatec\u00b4s Westcon<\/a> business.<\/p>\n

Datatec will acquire 100% of Comztek from its current shareholders\u00a0who include JSE-listed Mustek<\/a> and various members of the\u00a0management team through family and employee
\ntrusts.<\/p>\n

The acquisition will be settled by the payment of R40 million in\u00a0cash funded from new loan finance (R27.4 million to Mustek, R12.6\u00a0million to the Management Sellers) and R40 million in Datatec\u00a0shares (R12 million, to Mustek, R28 million to the Management\u00a0Sellers).<\/p>\n

A further R8 million will be paid in cash to the\u00a0Management Sellers, subject to Comztek meeting certain EBITDA\u00a0performance conditions for the 6 months ending 31 December 2012.<\/p>\n

The Comztek business will be integrated with\u00a0Westcon South Africa in an internal
\nreorganisation which will involve Datatec\u00b4s BEE partner, the\u00a0Mineworkers Investment Corporation (MIC<\/a>) and several members of\u00a0the Comztek management team subscribing for shares in WSA to\u00a0increase MIC\u00b4s share of the combined business to 40%, and Comztek
\nmanagement\u00b4s share to 9.9%, leaving Datatec, through its\u00a0subsidiary Westcon Emerging Markets Group (Pty) Ltd with a
\nshareholding of 50.1% (“the reorganisation”).<\/p>\n

Jens Montanana<\/a>, Datatec’s chief executive said:\u00a0“Comztek brings a complimentary vendor portfolio that has minimal\u00a0overlap with Westcon’s own vendor portfolio, thereby adding strong\u00a0new vendor relationships, along with highly skilled and\u00a0experienced staff that will allow us to widen our offering to our\u00a0respective customer bases.<\/p>\n

“With revenues across Africa exceeding\u00a0$300m the combined business will boast the scale and addressable\u00a0market to attract new vendors wishing to create a regional\u00a0presence.<\/p>\n

“Africa remains a key growth market for us and this deal\u00a0significantly expands our footprint and offering into many new\u00a0markets. As the continent continues to develop our solutions and\u00a0services will play an important part in the rapid adoption of more\u00a0advanced IT and telecoms infrastructure.”<\/p>\n

Related article<\/strong><\/p>\n

Datatec subsidiary in South American acquisition<\/strong><\/a><\/p>\n

Westcon SA CEO steps down<\/strong><\/a><\/p>\n

Westcon acquires Triple Accesss IT<\/strong><\/a><\/p>\n

Westcon acquires Afina for EUR50m<\/a><\/strong><\/p>\n

Datatec takes ownership of Westcon Africa<\/a><\/strong><\/p>\n

Diversification sees Datatec push for double-digit growth<\/a><\/strong><\/p>\n

Datatec subsidiary acquires Indonesian firm<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Datatec is set to acquire Comztek, an ICT and networking distributor in Africa, for a consideration of R88 million.<\/p>\n","protected":false},"author":10,"featured_media":3129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[4739,765,26,2606,1097,769],"class_list":["post-27653","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-it-services","tag-comztek","tag-datatec","tag-headline","tag-jens-montanana","tag-mustek","tag-westcon"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27653","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=27653"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27653\/revisions"}],"predecessor-version":[{"id":27658,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/27653\/revisions\/27658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/3129"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=27653"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=27653"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=27653"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}