Listed outsourcing company Business Connexion (BCX) has bought a 50% plus one share stake in Dusty Moon Investments 333, for R240 million, to grow its presence in the managed print services arena.
The company yesterday told shareholders its wholly-owned subsidiary, Business Connexion Pty, would buy the stake from the trustees of the Trawaral Trust, which will hold the balance of the business.
BCX says it is buying into two companies owned by Dusty Moon, which collectively will be called the Canoa Group after a restructuring process that will take place before the deal becomes effective.
BCX explains the deal extends its investment into managed print services, which it sees as an “important and growing area of ICT workspace management and managed services”.
Last year, the company created a Managed Print Services business unit through a joint venture with the Canoa Group, in a bid to “enhance its overall managed services offerings”.
CFO Vanessa Olver says the deal expands BCX's presence in the managed print sector, as well as into maintenance and servicing of office equipment. She adds it will bolster BCX's presence in this area across SA and into the public sector.
“The acquisition is aligned to BCX's vision to create a simplified ICT workspace for customers,” the company notes.
BCX says the “growth of multipurpose, intelligent print devices and their related peripherals and management has become a fundamental component of an enterprise's overall end-user computing strategy”.
The deal is expected to bolster BCX's headline and earnings per share.
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