Johannesburg, 04 Apr 2005
JSE-listed Idion`s purchase of UK-based OS Solutions, which is being carried out by US subsidiary Vision Solutions, has become unconditional.
Vision announced in February that it had agreed to buy selected assets and assume certain liabilities of OS Solutions for up to $3.5 million in cash plus warrants to buy Vision ordinary shares.
OS Solutions is a provider of advanced systems management, disk and data optimisation and SMB High Availability for the iSeries market.
Idion says all conditions precedent have now been fulfilled and the deal has gone ahead, with an effective date of 1 April.
The group has said the acquisition adds new products to the Vision range and extends its market, as well as creates a lower-cost offshore development opportunity.
Related story:
Idion buys UK firm
Share