Dialogue Group Holdings has entered into an agreement to acquire 50% of the issued share capital of Sibize, from ATIO, for an acquisition consideration of R47.5 million.
In a notice to shareholders, Dialogue said the acquisition of Sibize is in line with its expansion strategy and is a strategic move towards penetrating the public sector market.
"The acquisition will give Dialogue a significant platform to rapidly expand its services into the public sector and provide the group with opportunities to extract synergies in cost savings, business development and common infrastructure," the company said.
According to a statement released by Dialogue, Sibize provides contact centre services to provincial and national government departments, and holds contracts to provide contact centre seats for a number of government departments.
Sibize is jointly-owned by Verge Management Services and ATIO, each with a 50% interest. The company has been operational since 1 June 2007.
Dialogue says the acquisition consideration of R47.5 million will be funded through a combination of cash and the issue of new Dialogue shares. An initial payment of 30% of the acquisition consideration will be payable within three days after the effective date.
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