South African IT services company EOH has continued its expansion drive through the acquisition of majority stakes in six ICT companies in four new territories, it said in a bourse filing on January 12.
In detail, EOH has concluded the acquisition of 50% or more of Consol Systems and BC Skills in Morocco, Acron and Cozumevi in Turkey, Acron in Iran, and EBS in Mozambique. Financial details were not disclosed.
The acquisitions will provide EOH with a base to grow aggressively in these territories, both organically and through further acquisitions, the company said. In addition, it has set up offices in the UAE aimed at serving the region.
JSE-listed EOH, which is one of the largest technology and knowledge services providers in South Africa, has a staff of around 9,000, including more than 1,000 employees in 33 countries outside of South Africa. It delivers end-to-end enterprise applications solutions, a wide range of outsourcing, cloud, managed services, and business service offerings to customers across all major industries, with a focus on the financial services, telecommunications, public sector, mining, manufacturing, and retail.
EOH announced also it expects a significant y/y growth in revenue and profits for the six month period to end-January (its fiscal H1).
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