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STAKE IN SOFTLINE

Hosken Consolidated Investments has acquired a 25% stake in Softline for R110m. HCI is now the major shareholders of Softline. Softline would use the investment to raise the company’s market share in the public sector and increase its presence abroad.

In a related deal Softline has acquired 60% of SVI Holdings for R93m. SVI will serve as an offshore subsidiary to drive Softline’s international expansion.

HCI began its IT moves in August when it purchased a 12,1% stake in Datatec. Yesterday HCI also announced the acquisition of 50% of Everest System Solutions for R3m.

Source: Business Day & Citizen Business