AYO Technology Solutions has entered into binding agreements to acquire 100% of the issued share capital of Kathea Communication Solutions, and 60% of the issues share capital of Kathea Energy Equity.
Kathea Communication is a value-added distributor of voice, audio visual, video conferencing and workspace management products solutions and services.
It’s brand offering includes Jabra, Polycom, Plantronics, CTouch, Logitech and Yealink, among others.
Kathea Energy is a value-added distributor of alternative energy solutions and represents brands including Tesla, LG Chem, Huawei, Byd and Schletter.
AYO will acquire the Kathea Communication Equity for a total purchase consideration of R89,791-million through an upfront payment and an earn-out subject to earnings achievements.
The R36-million to be paid for Kathea Energy is also split into an upfront payment and an earn-out amount.
The acquisitions will be finalised on conditions precedent being met.