Dimension Data has bought the business of 3fifteen, the business solutions company formed after a management buy-out from Datatec in March last year.
Steve Schnell, MD of Dimension Data`s Protocol Venture Capital, says the group bought 3fifteen`s business, but not the company itself. The amount was not disclosed.
Some staff and management were also brought across to Dimension Data and the business sits in a new company.
3fifteen, formerly Logical SA, was relaunched after a management buy-out from Datatec when Datatec refocused its strategy. Logical SA was a loss-maker at the time.
3fifteen, set up with a smaller team, altered its focus to concentrate on custom business solutions development.
Among its bigger clients are the Automobile Association, Pick 'n Pay, Sasol, Old Mutual and the Professional Provident Society.
Schnell says the business underwent a restructuring exercise before Dimension Data became involved.
3fifteen announced in November that a restructuring could result in the closure or downsizing of its Cape Town operation, although it was upbeat on prospects for the Johannesburg business.
Schnell says the acquisition became unconditional a month ago.
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