Connection Group Holdings, parent of the Incredible Connection, is buying photographic chain Beyond IT for R30.2 million plus the value of stock, expected to be about R4 million.
Earlier this year Connection bought 16 FotoFirst, Fotostaa and Audiolens outlets from New Teltron for R32 million, rebranding them as Photo Connection.
Beyond IT operates 12 stores in malls in greater Johannesburg.
Connection Group says the photographic industry has evolved rapidly into an industry driven by the adoption of computers, resulting in more pictures being captured and processed than at any other time in history.
"Connection Group, with its new digital imaging brand, Photo Connection, is ideally positioned to take advantage of this opportunity."
Beyond IT`s owners, Alan Reeves, Mark Reeves and Anthony Delport, are to join Connection Group and assume responsibility for all 29 Photo Connection outlets.
The deal is subject to approval by the competition authorities.
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