Dimension Data South Africa today announced that it has acquired Old Mutual`s 20% shareholding interest in Internet Solutions.
Dimension Data South Africa is now the sole shareholder of Internet Solutions.
Allan Cawood, CEO of Dimension Data in Africa, commented: "Internet Solutions is an important asset to the Dimension Data Group, and 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.
"Dimension Data and Internet Solutions will continue working together for the benefit of South African and African-based corporates, to deliver business communications efficiently and cost-effectively."
Dimension Data purchased Nedcor`s 20% shareholding in Internet Solutions in August 2005, increasing its shareholding to 80%.
"Internet Solutions has been a Dimension Data company for many years and together we have been successful in delivering a world-class service to businesses," commented Angus MacRobert, CEO of Internet Solutions.
"As the company continues to grow we are committed to investing in new technologies and delivering improved telecommunications services throughout the continent."
Internet Solutions will continue operating under the Internet Solutions brand and continue to be known as a Dimension Data company.
Internet Solutions has gross assets of R536 million, which will continue to be consolidated in Dimension Data Africa accounts.
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