Listed\u00a0ICT services provider, Business Connexion says it\u00a0has entered into an agreement to dispose of its entire interest\u00a0in its Q Link business unit to Summit Garnishee Solutions for\u00a0R187.5 million.<\/p>\n
SGS is a privately-owned company that is not a related party to the group.<\/p>\n
The effective date of the disposal is 1 September 2013, and the consideration will be settled in full on the date that the last suspensive condition\u00a0is fulfilled.<\/p>\n
Q Link provides a one-stop collections platform that overcomes the complexity of multiple disparate interfaces to a variety of collection channels, including bank debits and payroll deductions.<\/p>\n
By way of rationale for the disposal Business Connexion said: “Q Link has grown to the extent that its future vision and strategy requires greater alignment with\u00a0the financial services sector. As a result, Q Link no longer forms part of the core business strategy of the Group and the board of directors of BCX\u00a0opted to dispose of Q Link and realise value.”<\/p>\n
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