Unisys Africa Limited announced today that it has signed a letter of intent to sell 30% of its equity to Cyberknowledge Systems Investments (Pty) Ltd. Cyberknowledge Systems is a black empowerment company that provides technology consulting services.
"Cyberknowledge Systems has an excellent team of experienced information technology experts whose skills would strongly complement the Unisys Africa portfolio of services and solutions," said Barry Holt, Unisys Africa managing director. "We expect that their knowledge, expertise and black empowerment credentials would play an important role in our transformation and growth in Africa."
The firm`s principals, who specialise in wireless applications and solutions, distributed processing applications, innovation management, product development and management consulting, will join Unisys Africa should this proposed transaction be finalised.
"Unisys Africa should be applauded for structuring a deal that captures the true spirit of empowerment based on mutual respect," said Mohamed Madhi, chairman, Cyberknowledge Systems.
This proposed transaction is subject to satisfactory completion of a definitive agreement. Upon completion, tentatively scheduled for late April 2005, Unisys Africa will have complied with a key element of the black economic empowerment (BEE) requirements as proposed in SA`s information and communications technology (ICT) charter.
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