Datatec acquires Coasin for USD 20.2 million

Wednesday 16 May 2018 | 10:28 CET | News

International ICT group Datatec has announced that its subsidiary Logicalis Group has signed an agreement to acquire 100 percent of the issued share capital of Coasin, a Chilean ICT services provider that also operates in Peru. The acquisition is expected to close in the third quarter of 2018 and is subject to certain third party consents, as well as approval by the Chilean Competition Authorities.

Coasin was established in 1966 and provides ICT support and managed services, networking and POS products with a strong position in the mining and financial services verticals, Datatec said. The group had annual turnover of USD 84.4 million in the year to December 2017, with net profit of USD 2.8 million, and net assets of USD 12 million.

The acquisition is expected to be earnings-enhancing. Logicalis will acquire Coasin from its current owners for a cash consideration of up to USD 20.2 million, of which USD 19.1 million will be paid on completion of the acquisition, and the remaining USD 1.1 million will be paid based on Coasin achieving a profit target for the twelve months to 30 June, it said. The acquisition consideration will be settled in cash from Logicalis' resources.

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Categories: General / IT
Companies: Datatec / Logicalis
Countries: World
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