Wooltru, the retail and wholesale group, and JSE-listed network technology services group Datatec have signed a R1 billion joint venture agreement which will focus on developing and managing integrated e-commerce retailing solutions for the FMCG sector.
Earlier this year, Wooltru formed a business to allow it to pursue its strategy of investing in retail-related technology. Datatec has purchased 47,5% of this company which will be renamed Affinity Logic. Wooltru Investments retains 47,5% of Affinity Logic with the remaining 5% held by an employee-shared trust.
Affinity Logic projects revenues of R200 million for fiscal 1999 and the company's CEO Richard van Rensburg sees the bulk coming from its outsourcing services associated with integrating supply chain management with e-commerce technologies.
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