DiData acquisition enters final stages


DiData acquisition enters final stages

Alex Scroxton

The £2.1bn acquisition of Dimension Data by NTT is moving ahead after the deal conditions were formally satisfied yesterday.

As of midday on Monday Japanese comms outfit NTT had "received valid acceptances" in respect of approximately 93% of DiData shares to which the offer relates.

The deal has also cleared regulatory hurdles in all relevant markets, although a seperate investigation by South African authorities into the possibility of insider trading at DiData remains in progress.

The offer will remain open for acceptance until further notice, with at least a fortnight's warning needed before the deal finally closes.

In a statement, NTT said it would start the process of delisting DiData's shares from the Johannesburg and London stock exchanges. It will also seek to acquire the remaining shares in the firm compulsorily.

Said DiData CEO Brett Dawson: "Dimension Data's opportunity to lead the market in managed ICT services could never be stronger.

"I am eager to work closely with NTT to begin providing a mutual value proposition to our clients and developing new value that helps solve our clients' IT and business challenges."

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