South African-based Dimension Data has announced the acquisition of the outstanding 24 per cent of its Australian-based subsidiary Com Tech communications.
The outstanding 24 per cent interest in Com Tech Communications has been acquired by Dimension Data for approximately $US144 million.
The consideration comprises a cash payment of $US63 million and the issue of 9.3 million new Dimension Data shares. The final purchase price is subject to earn-out arrangements and is conditional upon Com Tech achieving profit and margin targets.
The final leg in this Australian acquisition is the latest of many purchases which have taken the groups operations to over 30 countries on six continents.