Listed computer distributor Pinnacle Technology Holdings is in negotiations.
The company told shareholders yesterday that it was in discussions that could affect it share price, if successfully concluded.
Pinnacle CEO Arnold Fourie previously said once the Axiz deal had been wrapped up, the JSE-listed company wanted to start working on another “substantial” takeover. Fourie said he wanted to add more value to the company.
It is targeting a “substantial” deal each year to add volume to the company and aid it in maintaining its growth path, said Fourie.
Pinnacle announced in July that it was buying the channel company from management and staff, who owned Axiz. The deal was wrapped up in November at a cost of R150 million.
In the first half of the year, Axiz added R268 million to Pinnacle's R2.1 billion in turnover. The distributor will add about R2 billion to Pinnacle's yearly revenue.
Pinnacle did not provide any details around its discussions, but cautioned shareholders to trade with caution. Its shares closed flat at 685c yesterday.
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