Dimension Data (DiData) SA has acquired Old Mutual`s 20% shareholding interest in Internet Solutions (IS), making it the sole shareholder of that company.
DiData bought Nedcor`s 20% shareholding in IS in August last year, increasing its shareholding to 80%.
"IS is an important asset to the DiData Group. Having a 100% shareholding in the leading converged communications service provider in the country is hugely beneficial in terms of delivering solutions and services that meet key business needs; specifically, providing more efficient voice and data solutions," says Allan Cawood, CEO of DiData in Africa.
"IS has been a DiData company for many years and together we have been successful in delivering a world-class service to businesses," says Angus MacRobert, CEO of IS.
IS will continue operating under the IS brand and continue to be known as a DiData company, DiData says.
IS has gross assets of R536 million, which will continue to be consolidated in DiData Africa accounts.
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