Dynamic Technology Holdings (DTH) and management are selling Offline Digital to Media24 for R3.3 million.
DTH owns 66.7% of software development company Offline Digital; management owns the rest.
DTH is selling its stake to Media24 because the company is too small to be considered core. Offline Digital develops and implements solutions for digital content management and publishing, and owns a software framework upon which these solutions are developed.
The listed company initially bought the 66.7% stake in Offline Digital in December 2007 for R1.4 million. It had the option to buy the rest of the shares in March next year from Offline Digital management.
DTH will be paid R2.2 million for the sale of its stake, while management will receive R1.1 million for their 33.3%.
The deal is subject to several conditions, including that Media24's board ratifies the deal.
Related story:
Dynamic warns of lower earnings
Share
