/ 28 September 2000

DIDATA STAYS ON ACQUISITION TRAIL

DIMENSION Data Plc is to take over US information technology group TimeBridge Technologies in a R972m cash deal in its fourth takeover in the US this year, business daily Sake-Beeld reported. The group says it will invest another R108m in TimeBridge to redeem R35m of debt and boost operating capital. Didata will pay R484.65m initially and the rest over two years. According to Didata, TimeBridge is one of the swiftest-growing data management and network firms on the US East Coast. TimeBridge’s senior managers and other key personnel signed a three-year contract with the new group, which will be known as Didata TimeBridge.