Competition of Acquisition Launches Lonrho into the African IT Industry

12 September 2007
Content from a Premium Partner
Lonrho (London)
press release

Further to the announcement on 7 June 2007, Lonrho (AIM : LONR), the conglomerate with a diverse portfolio of African investments, is pleased to announce that it has now completed the acquisition of 65% of one of Mozambique’s largest commercial Information Technology Solution Providers, Sociedade Comercial Bytes & Pieces, Limitada (“Bytes & Pieces”). Bytes & Pieces provides turnkey network solutions, maintenance and support to Mozambique business, NGO’s and Government organisations.

Lonrho acquired Bytes & Pieces for $2.34 million [in cash] and will take up two of the four Board positions. The two founders of Bytes & Pieces, Vijay Thadani and Veronica Miller, will together retain 35% and remain on the Board. Bytes & Pieces is an authorised distributor of Dell equipment in Mozambique, providing Enterprise Solutions on a Dell hardware platform. It is also a Microsoft Certified Partner and an authorised distributor for CISCO Systems, MGE UPS Systems and Legrand networking products.

Bytes & Pieces plans to expand outside Mozambique under the name of Complete Enterprise Solutions (“CES”) by setting up a distribution division for high quality networking products and an Enterprise solutions implementation division based upon the Dell hardware platform.

David Lenigas, Lonrho Chairman and CEO commented:

“We are delighted to have completed on the acquisition of Bytes & Pieces. Lonrho intends to build on the success of Bytes & Pieces and replicate the business model built up in Mozambique through other countries in Africa, starting with the company’s first office in Johannesburg. We believe the business expansion of CES will assist the growth of the African economy to meet the IT demands across the continent.”

ENQUIRIES

Lonrho Plc +44 (0) 20 7016 5105

David Lenigas, Chief Executive +44 (0)7881 825 378

Emma Priestley, Executive Director +44 (0)7867 785 177

Pelham PR Charles Vivian +44 (0) 20 7743 6672 +44 (0) 7977 297903

Alisdair Haythornthwaite +44 (0) 20 7743 6676 +44 (0) 7714 721379

Collins Stewart Europe Hugh Field +44 (0) 20 7523 8350

Jonny Sloan

NOTES TO EDITORS

About BYTES & PIECES:

Bytes & Pieces provides turnkey network solutions, maintenance and support to Mozambique business, NGO’s and Government organisations. It featured at 53 in the KPMG “Top 100 Companies in Mozambique” survey in 2004 and is an authorised distributor of Dell equipment in Mozambique, providing Enterprise Solutions on a Dell hardware platform. The IT company is a Microsoft Certified Partner and was awarded the System Builder Partner of the Year 2006 for East and Southern Africa. Bytes & Pieces is also an authorized distributor or value added reseller for CISCO Systems, MGE UPS Systems and Legrand networking products. Bytes & Pieces recorded pre-tax profits of US$854,000 in 2006, on revenue of US$8.6 million.

About LONRHO:

Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company is listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.

Since 2006, the Company has invested in or acquired control of:

  • Hotel Cardoso - www.hotelcardoso.co.mz (retained)
  • Nare Diamonds - www.narediamonds.com
  • Brinkley Mining - www.brinkley-mining.com
  • Luba Freeport - www.lubafreeport.com
  • Fly540 - www.fly540.com
  • Norse Air - www.norseair.co.za
  • Swissta Holdings - www.swissta.com
  • Countermine - www.countermine.com
  • SA Independent Liner Services
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