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Simeka back on the acquisition trail

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Simeka Business Solutions will spend as many as 150-million shares in an offer for 100% of SAB&T Ubuntu.
The transaction is expected to be complete by June. 

The rationale for the acquisition is based on synergies that the companies share in ICT, business support services and public sector opportunities.
In terms of the offer, SAB& T Ubuntu shareholders will be given one Simeka share for every 2,1 of their shares, up to a maximum of 150-million Simeka shares.
Full details of the financial implications will only be available once due diligence has been completed.
This is not the last deal expected from Simeka, which has still got its cautionary announcement in force.