Acquires Singapore company for S$12,1-million Dimension Data`s Asian subsidiary, Datacraft Asia, has broadened its managed network service capabilities with the acquisition of the region`s leading networking systems integrator and e-business enabler for S$12,1- million.
The acquisition of the business of Singapore based Multisoft Pte Ltd adds desktop and server management services to Datacraft`s existing remote network management services. It also enhances the Dimension Data Group`s Global Services offerings, which are designed to provide high-value, end-to-end, 24x7x365 network services to enterprises and multinationals across the globe.
Dimension Data`s executive chairman Jeremy Ord, says that the purchase consideration is subject to a target profit after tax of S$5,4-million (US$3,1-million) over 36 months. The initial purchase consideration will be funded by proceeds from Datacraft`s share placement in June 2000.
"We are very pleased with the progress that is being made across the Group in extending the overall scope of the networking services offering," comments Ord.
Ron Cattell, chief executive officer of Datacraft Asia says, "Datacraft has already developed a significant region-wide business with its managed network services. Because Multisoft Singapore is a leading Microsoft Certified Solution Provider and Large Account Reseller, the Group`s Global Services Operations Centre in Singapore will have immediate access to significant local Multisoft`s solution provider resources and will be able to provide Microsoft certified solutions and services to organisations in the region.
"Indeed, by integrating Multisoft`s desktop, server and applications expertise, Datacraft will be able to provide end-to-end management services to customers seeking a full outsourcing managed solution for their IT infrastructure from a single vendor," Cattell explains.
Under the acquisition agreement, Datacraft Singapore has incorporated a wholly-owned subsidiary company, Multisoft IT Solutions Pte Ltd (MIT). MIT will acquire all the existing business undertaking of Multisoft Singapore as well as its inventory and some of the company`s fixed assets. All the existing employees of Multisoft Singapore will also be transferred to MIT.
With this acquisition, Datacraft Asia now operates 61 offices in 13 countries throughout Asia Pacific.
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Dimension Data
Dimension Data is a leading global network services and i-Commerce solutions provider, focused on enabling enterprises, telecommunications service providers and new economy companies to communicate and transact effectively in an e-enabled environment. Dimension Data is listed on the London Stock Exchange and operates in over 30 countries on six continents. The Group has achieved a compound annual growth rate in US dollars of 78% in revenue and 38% in basic earnings per share over the past two years.