| Wed 1 Feb 2012, 13:18 | | MMG - MICROmega Holdings Limited - MICROmega acquires controlling interest |
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MMG
MMG
MMG - MICROmega Holdings Limited - MICROmega acquires controlling interest
in MIS Consulting
MICROmega Holdings Limited
(Registration number 1998/003821/06)
(Incorporated in the Republic of South Africa)
ISIN code:ZAE000034435 Share code: MMG
("MICROmega")
MICROmega ACQUIRES CONTROLLING INTEREST IN MIS CONSULTING
MICROmega Holdings Limited (MMG) has acquired a controlling interest in MIS
Consulting (Pty) Ltd ("MIS"). MIS provides a unique customer to business,
and business to business enterprise communication service using SMS.
According to Greg Morris, Chief Executive Officer of MICROmega, "MIS`s
product offering is unique in that the business provides a fully integrated
platform of communication between businesses and their customers. The
traditional model of down-stream communication from an enterprise to its
customer base, whilst effective, can often be viewed as cumbersome, limited
and in some instances downplayed as "spam". Our service offering is industry
and customer specific and by using the largest medium of communication
availabe today (SMSing) we are able to allow businesses to professionally
receive, mananage and respond to customer requirements. It further tracks
and allows for the monitoring of consumer trends and consumer behaviour."
MIS has to date launched it`s product, namely Coretalk, through distribution
partners in South Africa, Columbia and Costa Rica.
Morris states "Our decision to invest in MIS was motivated by the
scalability of the product both in its current markets as well as new
regions where the business has received demand for its product. What MIS
needed was the infrastructure, both financial and technical, to take up
these opportunities. MICROmega has delivered on both of these and we believe
we will enjoy an immediate earnings contribution from the business albeit
initially small and scaling over the next two years to fall in line with our
shareholders expectations."
MIS will be integrated into the broader product offerings currently being
provided by MICROmega`s connectivity and cloud computing business units.
The acquisition, due to its size, is not a categorizable transaction for the
purposes of the JSE Listings Requirements.
1 February 2012
Sandton
Sponsor
Java Capital
Date: 01/02/2012 13:18:01 Produced by the JSE SENS Department.
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