In a statement issued to shareholders on Friday, it said it would buy 12.6% from Western Breeze and 17.4% from Amabubesi Investments, for a total amount of R13.2 million, which will be paid in cash.
DFM SA is a South African-based company that provides a range of vehicle location, fleet management, satellite navigation, workflow, mobile job planning and security tool services to more than 5 000 companies. It comprises the bulk of Digicore's corporate business in SA, says the company.
The unit has more than 350 staff members. Digicore says the buyout is “the result of the restructuring of a past BEE transaction, which allows the BEE shareholders to realise cash for their investment”.
Digicore says the deal is expected to bolster basic and headline earnings per share by about 9%.
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