JSE-listed Spescom has disposed of its 42% interest in US-based Enterprise Informatics.
Formerly known as Spescom Software, Enterprise Informatics' losses have continually affected Spescom Group's financial performance.
In a statement to shareholders, Spescom said it was disposing of its shareholding, as the company was no longer core to the group's operations.
"In order to focus on enhancing communications by unlocking the value of voice, data and video through effective integration and support services, management has decided to dispose of the investment in Enterprise Informatics," it commented.
Spescom sold its interest in the company to ERP2 for a consideration of $2.5 million (R17 million). The disposal will be settled tomorrow, 11 October.
The company aims to use $1.1 million to facilitate a further reduction of debt. The remaining money will be invested in developing existing core operations within the Spescom group.
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