0
IT

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.



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: General / IT
Companies: Datatec / Logicalis
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Datatec cautions of 20% drop in FY underlying EPS

Published 26 Jan 2018 15:08 CET | South Africa
South African ICT group Datatec says it expects underlying earnings per share will be at least 20 percent or USD 0.22 lower for ...

Datatec cancels AIM listing in London

Published 25 Oct 2017 08:52 CET | World
South African ICT group Datatec has announced that the secondary listing of its shares on the Alternative Investment Market of ...

Datatec completes sale of its Americas businesses to SYNNEX

Published 05 Sep 2017 11:15 CET | World
ICT group Datatec has completed the sale of its Westcon-Comstor business in North America and Latin America and of 10 percent of ...

D-Link appoints sales manager for Chile

Published 01 Apr 2015 22:44 CET | Chile
D-Link has appointed Pedro Cisterna as its new business sales manager for Chile. The recently appointed has previously worked ...

Chile gets nine bids in emergency alert system tender

Published 25 Feb 2011 06:33 CET | Chile
Nine companies have placed their bids in the tender for the implementation of an emergency SMS alert system in Chile. Via the new ...





-/-7%
Number of registered Sim-cards
Belgium  |  2017