Pinnacle Technology Holdings has entered into an agreement to buy all of Axiz Technology for R170.9 million.
Pinnacle would fund the deal through its existing cash resources of R30m, the provider of information technology hardware, software and related services said yesterday.
The balance will be funded through a preference share structure and other facilities entered into between Pinnacle and its financiers, the company said.
The transaction is conditional on the fulfilment of certain suspensive conditions such as obtaining board approval and a go-ahead from the Competition Commission. - Asha Speckman