MGX shareholders have given the go-ahead for the disposal of the business of MGX Enterprise Solutions.
The group announced in May that it was selling the subsidiary to certain of the subsidiary`s senior management and black empowerment group African Legend Technologies for R19 million plus the aggregate of the face values of the Enterprise Solutions liabilities and trade creditors.
The deal forms part of MGX`s turnaround strategy begun in December last year.
The business is now housed in AL Indigo, 57.5% of which is owned by African Legend Technologies with the balance held by management and staff.
The new company, which provides solutions based primarily on Sun Microsystems, BMC Software, Peregrine Systems and Veritas Software products, says it has already secured contracts worth almost R50 million.
Turnover for the first financial year is projected to be more than R250 million.
"Our offerings dovetail with those of African Legend Technologies and I am confident that AL Indigo is well placed to build on the solid strategies and profitable formula established by Enterprise Solutions," says AL Indigo CEO Ed Gassner.
Related stories:
MGX to continue 'as planned`
MGX makes two disposals
Share
