Internet Solutions, through parent company Dimension Data, will acquire the business of MWeb Connect.
The transaction is subject to approval by the relevant Competition authorities in South Africa and shareholders and, if successful, should be completed in the first quarter of next year.
“MWeb is one of South Africa’s largest consumer ISPs and this acquisition will immediately give Internet Solutions a presence in the large and rapidly growing consumer market,” says Internet Solutions MD Saki Missaikos.
“A truly digital world is dependent on quality connectivity. It is the building block upon which the promise of automated cars, ‘smart homes’, virtual offices, and Internet of Things will achieve mass adoption,” he says.
“We believe that broadband has the power to reshape the world in which we live and work. It offers faster and more dynamic ways of doing business, and is playing a critical role in improving the provision of services for consumers across many sectors such education, health, transport, and social services to name a few.”
Derek Hershaw, CEO of MWeb, comments: “For nearly 20 years MWEB has been connecting people and, like Internet Solutions, technology is at the core of our business. MWeb and Internet Solutions have been laying the foundations for a connected world for many years and we have a common vision of providing seamless connectivity for the consumer at home, on the move, in the office, and in public spaces.
“We believe that the full potential of technological advancements will be realised by ensuring that everyone has access to quality, affordable, secure, and reliable connectivity.”
In January 2015, Dimension Data and IS acquired MWeb Business, Optinet Service Division and the Optinet Network Division from MWeb Connect.