Listed ICT firm Pinnacle Technology has\u00a0acquired Precision ICT\u00a0and Modrac with effect from 1 June 2013.<\/p>\n
The purchase price was undisclosed and is\u00a0subject inter alia to the completion of a due diligence review.<\/p>\n
Precision ICT is an engineering company focused on the design, manufacture and
\nassembly of quality electronic enclosures and server racking for the ICT and
\nother specialist markets.<\/p>\n
Precision ICT manufactures the Modrac and\u00a0Envirorac ranges of products. And according to Pinnacle, it\u00a0is the single largest manufacturer of electronic enclosures in Africa and
\nexports products to the United Kingdom, Middle East, Europe and Africa.<\/p>\n
Both\u00a0companies operate out of a state of the art 10,000m2 factory in Wynberg,
\nSandton.<\/p>\n
Arnold Fourie, CEO of Pinnacle, said that the rapid\u00a0global increase in cloud computing means that data centres need to expand to\u00a0keep up, especially as more and more companies turn to cloud computing\u00a0solutions. “Data centres are at the very epicentre of the Cloud,” he said.<\/p>\n
“More and more data centres need to be developed to keep up with the increase
\nin data availability and management. The acquisition of Precision ICT and
\nModrac allows Pinnacle to participate in this critically important market
\ndevelopment.”<\/p>\n
Fourie said that the incorporation of Precision ICT’s productive capacity into
\nthe group will add considerably to the existing capacity of the earlier\u00a0acquisition of JAG Manufacturing, and will see the return of the\u00a0Modrac and Envirorac ranges of racking products into the portfolio of\u00a0products marketed by the Pinnacle.<\/p>\n
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