Pinnacle Technology Holdings has increased its stake in Explix Business Solutions for R3.5 million, buying out the 49% it did not already own.
Explix, previously Moyahabo Digital Solutions, markets, distributes, installs and provides Sharp-branded multifunction printers (MFPs) to the commercial and public sector. Pinnacle already owns 51% of the company.
In a statement released yesterday evening, Pinnacle said Explix is one of two distributors appointed by Sharp for MFPs.
It says Explix should be managed within its Pinnacle Africa operation, which would “eliminate the need for the separate overhead infrastructure currently in place at Explix”, which would trim costs.
“The Sharp MFP product line is known internationally to comprise high-quality, reliable and well-priced equipment. Despite this, the brand has yet to be fully recognised as such in the southern African market,” says Pinnacle, in a statement to shareholders.
Pinnacle says merging the brand into the Pinnacle Africa “infrastructure would allow the true potential that it sees in the Sharp MFP product line to be realised”.
Related story:
Acquisitions buoy Pinnacle
Share
