SA Business Connexion sells Q LINK unit for EUR 14mn [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) South African information and communication technology group Business Connexion (BCX) said it has agreed to sell its Q LINK business unit to South African privately-owned auditing firm Summit Garnishee Solutions (SGS) for a cash consideration of ZAR 187.5mn (EUR 14mn). BCX explained that the decision for the disposal was taken as Q LINK no longer forms part of the group's core business strategy. Q LINK provides a one-stop collections platform that overcomes the complexity of multiple disparate interfaces to a variety of collection channels, including bank debits and payroll deductions. It has grown so that its future strategy requires greater alignment with the financial services sector.
The deal is subject to regulatory and other conditions, which should be settled by the end of October 2013.
BCX is listed on the Johannesburg Stock Exchange and has operations in South Africa, Kenya, Mozambique, Namibia, Nigeria, Zambia, Tanzania and the UK.
(c) 2013 Emerging Markets Direct Media Holdings LLC Provided by Syndigate.info an Albawaba.com company
[ Back To Technology News's Homepage ]