The Idion Technology Holdings share price continued to climb this morning after the company became the target of a hostile takeover bid yesterday.
Prism says its cost-cutting measures, including some staff layoffs, will save the company about R2 million per month, but will not affect the company`s future revenue.
Canadian company DataMirror has launched what appears to be a hostile takeover bid for Idion Technology Holdings.
The mega HP/Compaq merger still has the local and international IT industries abuzz with speculation as to which way shareholders will vote.
LG Premium Service Centre Launch
LG South Africa has launched its premium service centre in Midrand, Johannesburg. The centre aims to make it easy for LG customers to get their LG appliances fixed directly with LG.
The future of Idion`s local operation hangs in the balance after Nigel Stokes, DataMirror CEO, admitted this morning that his company had not conducted a due diligence on the local operations before initiating its takeover bid.
Micrologix has posted its final financial results as an IT company. The ex-hardware and software development firm will be involved in the clearing and forwarding business after its acquisition of Spectrum Shipping is made final.
Kunene Technology (KTL) is to be delisted and liquidated after unbundling its shareholding in Grintek, collapsing the pyramid structure of the Kunene Brothers group.
TymeBank announces Retail Capital buyout
TymeBank has reached an agreement with Retail Capital and its shareholders to acquire 100% of the fintech SME funder’s shares, subject to regulatory approval. #newsvideo #TymeBank #Itinbanking
Crux Technologies, hit by key resignations, bad debts and a breach of contract, among other things, has reconsidered its strategic direction and decided to rationalise its operations.
Investec Group has increased its stake in The IQ Business Group by acquiring another 5% interest, and has moved its 50% holding out of Financial IQ, the former joint venture between IQ and Fedsure.
Financial software company Global Technology (Glotec) has emerged ahead of the game after a turbulent 18 months, growing its revenue and headline earnings. The company is now earning 88% of its revenue in dollars.
Top business technology headlines 20 - 26 February 2022
A summary of the top business technology stories shared by ITWeb between 20 - 26 February 2022. Visit www.itweb.co.za for more news. #ITWebCloudDatacentresummit2022 #newsvideo #Fraudcases
The expectations of ICT players seeking funding are now more realistic than during the Nasdaq boom, says Vantage Venture Partners principal Mutle Mogase, announcing the first closing at R200 million, of a R300 million venture capital fund.
Customs clearing and freight forwarding software company Compu-Clearing Outsourcing grew revenue 22% in a tough six months to end-December 2001, thanks to a significant increase in the client base.
Fleet management solutions company DigiCore Holdings` share lost 17.5% on the JSE this morning despite assurances from management that a plunge in operating profit was due to a bumper order in the previous results.