MGX subsidiary Software Futures is to be sold to an unnamed buyer.
The group published a further cautionary notice this morning saying only that it had agreed to dispose of its 95% interest in Software Futures.
An attempt to sell the operation to Paracon last year was aborted after MGX and Paracon failed to reach an agreement on the price.
Paracon said at the time it did not want to be caught overpaying in a buyer`s market.
MGX inherited Software Futures when it acquired CCH in 2001. The operation was founded by Aletha Ling, who later headed CCH and served as an MGX director.
MGX has not released any additional information about the disposal, saying it will soon make an announcement relating to the terms and conditions.
It does say, however, that the deal is still subject to certain conditions precedent.
CCH paid R60 million for 60% of Software Futures in 1998, valuing the company at R100 million, although it is unlikely that the sale price now will be near that level.
In May Cape-based people skills development company Learning Resources announced it had acquired Software Futures` technology-based training team for an undisclosed sum.
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