DataPro`s cautionary notice on Friday has generated a lot of interest in the group, with share volumes more than five times higher than normal.
DataPro`s notice said only that the Internet service provider (ISP) and telecoms company was in what it termed "advanced acquisition negotiations".
MD Doug Reed says DataPro is busy with a due diligence investigation ahead of a strategic acquisition that he describes as "similar to the @lantic acquisition".
"We took a lot of criticism over the @lantic acquisition, but it was a very good acquisition strategically," he comments.
DataPro, listed on the JSE`s AltX, announced in August last year that it had acquired consumer ISP @lantic Internet Services for R45 million. The acquisition brought with it @lantic`s 32 000-strong customer base.
In terms of the deal, the @lantic brand was to continue, and the business would trade independently.
Investors piled into the DataPro share on Friday, driving it up 5c or 10.2% to 54c on Friday, giving DataPro a market value of about R171 million.
More than 2.7 million stocks were traded, compared with an average daily volume of about 530 000 for the counter.
However, the share was directionless this morning, trading in a range between 52c and 55c. By 11.50am, it was at 52c after about 434 000 shares changed hands in 23 deals.
The share`s 12-month high of 67c was recorded on 24 June last year.
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