| Thu 11 Aug 2005, 8:38 | | Dimension Data - Dimension Data increases sharehol |
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Dimension Data - Dimension Data increases shareholding in Internet Solutions
Dimension Data Holdings plc
Incorporated in Great Britain under the Companies Act 1985
Registration Number: 3704278
Share Code: DDT ISIN number: GB0008435405
(`Dimension Data`)
Dimension Data increases shareholding in Internet Solutions
Johannesburg, South Africa, 11th August 2005 - Dimension Data South Africa
today announced that it has acquired Nedbank Group`s 20% shareholding
interest in Internet Solutions (IS) for an undisclosed sum. Internet
Solutions has gross assets of R473 million, which will continue to be
consolidated in Dimension Data accounts.
Allan Cawood, CEO of Dimension Data in South Africa, commented `Internet
Solutions continues to perform well and is an important asset to the Group.
We believe that the liberalisation of the telecommunications industry and
the increased adoption of convergence technologies will provide further
growth opportunities for us and we welcomed the chance to increase our
shareholding in Internet Solutions.`
Tom Boardman, chief executive of Nedbank Group commented: `As part of our
strategy of focusing on our core banking business, we identified the need
to dispose of our shareholding in Internet Solutions. It was logical to
approach majority shareholder Dimension Data about the sale of our stake
and we are pleased to have concluded the transaction with them. Internet
Solutions continues to be a supplier of services to the Nedbank group.`
`Internet Solutions continues to grow its market share, importantly in the
VPN (virtual private network) or outsourced WAN (wide-area network)
market,` commented Angus MacRobert, CEO of Internet Solutions. `Our value
proposition has been further increased with the recent roll-out of the IS
VoIP solution which has had a very pleasing adoption rate from our
customers.`
MacRobert continues: `Today, leading Corporates in Africa are looking for
one managed outsource partner who can deliver on key business objectives,
importantly reducing existing telecommunication charges. IS is well
positioned for the next era of exciting growth as the company moves to
become the leading Next Generation Telco delivering improved
telecommunications services.`
Dimension Data`s shareholding interest in Internet Solutions will be 80%
with Old Mutual owning the remaining 20%.
-Ends-
Note:
About Internet Solutions
Internet Solutions is South Africa`s largest Internet Service Provider,
providing infrastructure, bandwidth and support services to its customer
base. Internet Solutions initially focused on leased line internet access,
but now provides customers with a broad range of other related products and
services. Products and services that are provided by Internet Solutions
include, inter alia:
* internet access
* web hosting
* virtual private networks
* internet security
* remote/ dial-up solutions
* voice over internet protocol
With data and voice communications converging, Internet Solutions is well
positioned to support its primarily corporate customer base in terms of
both data and voice requirements.
About Dimension Data
Dimension Data plc (LSE:DDT), a specialist IT services and solution
provider, helps clients plan, build and support their IT infrastructures.
Dimension Data applies its expertise in networking, security, operating
environments, storage and contact centre technologies and its unique skills
in consulting, integration and managed services to create customised client
solutions.
For further information:
Michelle Atkins
Dimension Data
Tel: 083 310 9829
Email: michelle.atkins@za.didata.com
Date: 11/08/2005 08:00:02 AM
Produced by the JSE SENS Department
