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DTC - Datatec Limited - Logicalis agrees to acquire Australian IT Solutions Provider, Corpnet DATATEC LIMITED (Incorporated in the Republic of South Africa) (Registration number: 1994/005004/06) ISIN: ZAE000017745 Share Code: DTC LOGICALIS AGREES TO ACQUIRE AUSTRALIAN IT SOLUTIONS PROVIDER, CORPNET Datatec Limited ("Datatec", JSE/AIM: DTC), the international Information and Communications Technology (ICT) group, announces that its subsidiary Logicalis has agreed to acquire Corpnet, a Brisbane-based provider of IT solutions including data centre, cloud and managed services solutions, to the Queensland, Australia mid-sized and enterprise markets. The acquisition consideration comprises $2.7m on completion with an additional potential earn-out payment of $0.6m and is contingent upon approval by the seller`s shareholders. Corpnet has annualised revenues of approximately $20 million and has become one of the leading datacentre services and managed services providers in Queensland. Its service offerings, skill base and vendor accreditations will build upon Logicalis` existing datacentre and managed services expertise in Australia. Jens Montanana, Datatec`s Chief Executive commented: "This addition to our Australian business expands our existing offering and brings important complementary skills and resources. We can now deliver new cloud-based services and a stronger end-to-end managed services portfolio to the Australian market." Enquiries: Datatec Limited (www.datatec.co.za) Ivan Dittrich - Chief Financial +27 (0) 11 233 1221 Officer Jefferies Hoare Govett - Nominated Advisor and Broker Nick Adams/Tom Rider +44 (0) 20 7029 8000 finnCap - Broker Tom Jenkins/Henrik Persson +44 (0) 20 7220 0500 College Hill Adrian Duffield/Rozi Morris (UK) +44 (0) 20 7457 2020 Frederic Cornet (SA) +27 (0) 11 447 3030 Sandton 2 May 2012 Sponsor RAND MERCHANT BANK (A division of FirstRand Bank Limited) Date: 02/05/2012 07:05:06 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
