ERP.COM HOLDINGS LIMITED - ACQUISITION OF THE BUSINESS OF EXSOL
ERP.com Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/010017/06)
Share code: ERP
ISIN code: ZAE000043493
("ERP.com")
ACQUISITION OF THE EXSOL DIVISION OF SMC ELECTRONIC COMMERCE (PROPRIETARY)
LIMITED ("SMC")
1. Introduction
ERP.com shareholders are advised that ERP.com"s wholly owned subsidiary
Solutions for Business Intelligence (Proprietary) Limited ("SBI") has
entered into an agreement to acquire the business of the Exsol division of
SMC, a subsidiary of EC Holdings Limited, as a going concern, with effect
from 1 January 2004 ("the acquisition").
2. Nature Of Business Of The Exsol Division
Exsol is a leading developer and supplier of Knowledge Management solutions
with 32 medium to large-sized customers. Its product range includes a
complete set of solutions including document management, record management,
document imaging, forms processing and workflow. The business also provides
a range of services including strategy formulation, solution design and
project management.
3. Rationale
The acquisition of Exsol with its product range, key skills and customer
base gives ERP.com a strong foothold in the Knowledge Management Market
which it believes will be a growing area of IT spend over the next few
years.
Exsol will, in future, trade as SBI and will be headed up by Cobus Van
Niekerk, a senior executive of ERP.com.
Many companies experience an information overload with too much information
and no way to manage it and the solutions provided by SBI will enable
companies to effectively manage and organise information.
4. Consideration
The acquisition consideration is R1.
5. Conditions Precedent
All conditions precedent relating to the acquisition have been fulfilled.
6. Categorisation Of The Acquisition
The acquisition is categorised as less than a category 3 transaction in
terms of section 9.5 (a) of the Listings Requirements of the JSE Securities
Exchange South Africa and this announcement is made in order to provide
information regarding the ongoing activities of ERP.com.
Johannesburg
7 January 2004
Sponsor:
Nedbank Corporate
Date: 07/01/2004 02:20:03 PM Supplied by www.sharenet.co.za
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