South African technology firm Dimension Data has agreed to sell 60% of its Britehouse Group IT consulting and services business to black investors to help it expand in Africa.
Didata, which is listed in London and Johannesburg, said on Thursday it had won approval to sell the stake to a consortium comprising black empowerment groups Convergence Partners Investments and Safika Holdings, and investment firm VenFin.
Britehouse owns controlling stakes in 3fifteen, which specialises in Microsoft services, and Pebbletree, which provides consulting services for SAP software. The two companies have consolidated assets of R38,4-million ($5,5-million).
It also owns a 28% stake in Johannesburg-listed IT services firm Paracon and Britehouse’s share of its assets totals about R76-million.
Didata, which did not provide financial details for the deal, said the partnership would help Britehouse expand in Africa, where demand for IT services is growing. – Reuters