Blue Label Telecom (BLT) is to buy 75% of Malik Investment Holdings’ shareholding in Via Media.
Via Media is a mobile content and value-added services provider. Its technology platform connects to all South African mobile network. The services is offers include mobile terminate and originate as well as premium-rated SMSes, online billing, multimedia messaging, WAP and Web services, unstructured supplementary services data (USSD) and interactive voice response (IVR).
Via Media offers its partners the ability to sell mobile entertainment, information and communication services to consumers through a variety of media and technology channels.
The acquisition of Via Media affords BLT access to new channels for the distribution of both Via Media and BLT products and services.
The purchase consideration is the sum of R144,375-million as an initial payment plus additional amounts totalling up to R103,125-million if warranted profits are achieved by Via Media during a 36-month warranty period. An additional R112,5-million or part thereof will be payable if stretched targets over and above the warranted accumulated profits are achieved.