DataPro Group has made its first acquisition since it listed on the JSE`s alternative exchange, AltX, last year.
The group has bought for R1.13 million the monthly annuity revenue, customers and intangible assets of Internet service provider (ISP) Wickhit.
The price, which is to be paid in cash, out of DataPro`s cash flow, is subject to upward or downward adjustment, depending on the value of monthly annuity revenue at 1 July.
The minimum purchase price is R335 566.40.
DataPro, a niche telecoms company and business ISP founded in 1998, operates in four areas - the core ISP business, voice, electronic marketing and micro-outsourcing.
The group listed in October last year by way of a reverse acquisition of the Casey shell.
It came to market at 55c per share with a market capitalisation of R125 million, and the share opened 14.5% higher than the listing price, at 63c. Its highest close, 90c, was in November.
Yesterday the DataPro share closed at 72c, 2c or 2.7% lower than the previous close.
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