Datatec has completed the acquisition of NetStar, through the allotment of 5 454 080 new ordinary ZAR0.01 shares. It expects to list the shares on Thursday (21 January) in London and Johannesburg.
Application has been made to the London Stock Exchange for the admission of these shares to the Alternative Investment Market, and to the JSE Limited for the listing of the shares.
The deal is worth about $19,8-million.
Cisco-focused network integrator NetStar has operations in Australia, Singapore, Taiwan, Malaysia, Hong Kong and mainland China. It will become part of the Logicalis Group, Datatec`s ICT infrastructure solutions and service business.
NetStar forecasts revenues of $70-million, EBITDA of $6,5-million and EBIT of $4,3-million for the financial year to 30 June 2010.