JSE-listed Enterprise Outsourcing Holdings has reached an agreement to acquire the entire issued share capital of Atos KPMG Consulting. No value has been disclosed.
Atos KPMG Consulting SA has a trademark agreement and collaboration (licensing) with Atos KPMG Consulting UK..
EOH has published a cautionary announcement in which it says both companies are similar in size, have complementary business models and a similar outlook for the future.
It says a combined business will become a leading business and technology solution provider with a staff complement of more than 600 professionals, substantial turnover, offices in five locations in SA and operations in several African countries and Australia.
It says other benefits include both companies gaining hundreds of already established clients to whom a new range of services can be offered. Both will also have access to each other`s markets - commerce and industry on the one hand and financial services and the public sector on the other.
The deal would be conditional on receiving regulatory approval and the approval of EOH shareholders if necessary.
EOH is scheduled to report its year-end results next week. At the interim stage it had cash of R26.4 million. However, details of how the deal is to be structured have not yet been disclosed.
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