Dual-listed Datatec will expand its consulting services division through two investments, which it will pay for with 174 912 shares, worth R5.97 million.
Datatec will buy a 30% stake in Cornwall Energy Associates, a UK-based research and consulting business that focuses on the area of electricity generation and distribution, including renewable energy, and smart grids.
The company says the investment will provide it with insight and early access to an industry which could be fundamentally transformed by advances in technology. Cornwall's clients span the UK energy sector and range from government departments, international energy utilities as well as small, independent generators and suppliers.
In addition, Datatec will buy another 11 215 shares in Analysys Mason, which is 0.56% of Analysys' stock. The deal will take Datatec's stake to 92.1%. Analysys Mason advises companies on the telecoms, IT and media space.
It has more than 300 staff worldwide, with headquarters in London and offices in Cambridge, Dubai, Dublin, Edinburgh, Madrid, Manchester, Milan, Paris, Singapore, Washington DC and New Delhi.
Datatec has applied to the London Stock Exchange and the JSE to list the shares. The listing should go live this morning.
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