Enterprise Outsourcing Holdings (EOH) has completed its acquisition of Global Technology Business Intelligence (GBI).
The R4.7 million purchase of GBI, a software and services provider in the corporate performance management field, was first announced in September, but was subject to regulatory approval and the consent of shareholders of GBI parent Global Technology (Glotec).
Glotec shareholders gave the go-ahead last week.
The sale by Glotec was part of a lengthy restructuring process that saw the group shed most of its operations. However, when the exercise failed to deliver results, Glotec decided to dispose of its three remaining businesses and go into voluntary liquidation.
These measures were also approved by Glotec shareholders last week.
EOH`s CEO, Asher Bohbot, says GBI supports and augments the EOH business model and has a large blue-chip customer base.
"GBI will add tremendous value to EOH as the synergies between the two organisations is tremendous and enables us to offer solutions to a combined customer base."
The EOH share lost 3c or 0.7% to close at 415c on the JSE yesterday, giving the group a market capitalisation of R212.76 million.
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