Didata's unit to buy DCI

Didata's unit to buy DCI

JOHANNESBURG (Dow Jones): Datacraft Asia Ltd., the Asian subsidiary of Dimension Data PLC, or Didata, is to buy the remaining 40 percent equity interest in PT Datacraft Indonesia for $16.1 million in cash, the company said in a statement Wednesday.

Datacraft Asia holds 60 percent of DCI and has signed a letter of intent to purchase the remaining 40 percent from joint venture partner PT Mitra Intergrasi Informatika, a subsidiary of PT Metrodata Electronik, it said.

DCI is involved in the design, development, marketing and servicing of data communication systems and employs 47 full time staff.

A deposit of $805,000 is payable within 5 days of the signing of the letter of intent, and the balance is payable on the completion of the acquisition. This is expected to be around June 30, the company said.

The deal is subject to the approval of the Indonesian Supervisory Board of Capital Market, the Indonesian Capital Investment Board, the shareholders of PT Mitra Intergrasi Informatika and the shareholders of PT Metrodata Electronik.