EOH Mthombo Proprietary Limited Sells Four Subsidiaries To Bachique 842 Proprietary Limited
EOH Mthombo Proprietary Limited Sells Four Subsidiaries To Bachique 842 Proprietary Limited. EOH Mthombo Proprietary Limited has announced that it has sold 100% of the issued shares of Hoonar Tekwurks Consulting South Africa Proprietary Limited (“HTCSA”), Managed Integrity Evaluation Proprietary Limited (“MIE”), Xpert Decision Sytems Proprietary Limited (“XDS”) and Zenaptix Proprietary Limited (“Zenaptix”), to Bachique 842 Proprietary Limited for R417 million.
The company explained that this sale is in line with EOH’s stated strategic intent of disposing of a targeted group of IP companies as part of the Group’s deleveraging processes and represents a significant milestone in the implementation of these processes. The achievement of a more sustainable capital structure will allow the Group flexibility to execute on its long-term growth strategy. EOH is confident that Lightrock is the right partner to unlock Information Services’ full potential, enabling both future growth and international expansion in its operations.
EOH is one of the largest technology services companies in Africa and has a wide range of solutions in Industry Consulting, IT Services, Software, Industrial Technologies and Business Process Outsourcing. The Group continues to be an undisputed market leader in its core ICT businesses which operates principally under the iOCO brand name. The nature of this business is systemic to both the public and private sector and is an integral technology partner for a number of South Africa’s leading JSE-listed, blue-chip companies as well as key metros and government departments.
The Group’s 9000 employees deliver services to over 5 000 enterprise customers across all major industries throughout South Africa, Africa, Europe and the Middle East. As a proudly South African business, EOH is committed to sustainable transformation, making a positive, meaningful contribution to society, and is a Level 1 Broad-based Black Economic Empowerment (‘BBBEE’) contributor.
