MWEB Connect Proprietary Limited, the MultiChoice group’s internet service provider, has entered into an agreement with Dimension Data Proprietary Limited to sell the MWEB business to Internet Solutions Proprietary Limited (a pan-African telecommunications provider that is 100 percent owned by Dimension Data). The transaction is subject to approval by the competition authorities and the MWEB Connect shareholders. If approved, the transaction will be completed in the first quarter of 2017.
Various parties have shown an interest in acquiring the MWEB business. After considering all the available options, Dimension Data proved to be most suitable.
This transaction will allow MultiChoice to offer its products and services to a wider variety of platforms in an increasingly technology neutral future.
The contribution of Derek Hershaw, the chief executive of MWEB, and his team over the past 20 years is much appreciated.
Published 02 December 2016, 12:00pm