Comparex Holdings is in talks that could see black-empowered Business Connexion Solutions Holdings take up a 25.01% stake in the group.
Comparex says the merger, if it goes through, it will create the country`s largest black empowered full service IT company.
Business Connexion, which achieved revenue of R368 million for the year to end-February, is majority owned and controlled by its executive management, headed by CEO Benjamin Mophatlane.
Mophatlane was named IT Personality of the Year for 2002 by the Computer Society of SA, in association with ITWeb and Meta Group.
The group`s principal operating subsidiary, Business Connexion, was founded in November 2001 through the merger of two Microsoft partner companies, Business Connection and Seattle Solutions. It is a Microsoft Triple Gold Partner in SA.
The market has been awaiting news on the empowerment front from Comparex since it announced in November last year that it was renewing its search for a partner. Talks with various parties began early this year.
Comparex says it cannot comment further on the talks as it is trading under a cautionary notice related to the fact that the deal is still being finalised.
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