Invicta spends more than R500m to acquire Dartcom amid fibre race
Move comes as companies seek to gain from explosion in demand for fast home internet thanks to Covid-19
Invicta, which three months ago said it was ready to consider acquisitions after cutting debt, said on Thursday it had agreed to pay more than R500m for Dartcom Group, which distributes communications and renewable energy technology.
The company, chaired by Christo Wiese, said it would pay R50m in cash and issue the seller, Tuludi Capital, shares valued at at R450.8m. ..