Convergence Partners investee, Dimension Data, which was delisted about a year ago, after being bought out by Japan-based NTT in a R24.2 billion deal, reported double-digit top line growth for the year to September.
The company says revenue grew 14.8%, to $5.79 billion, from $4.74 billion for the 2010 financial year. It also reported double-digit operating profit growth of 10.8%.
Dimension Data announced it has won the 2011 Microsoft Systems Management Partner of the Year Award.
The company was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
On Friday 25 February 2011, Communications Minister Roy Padayachie met with the leaders of 30 of SA’s top ICT players to discuss cooperation between government and private sector in order to create jobs and enhance growth. Chairman of Convergence Partners and Dimension Data, Andile Ngcaba, attended the roundtable discussions, which were aimed at developing a 2020 vision for the South African ICT sector. Andile noted that applications and software are central to the ICT ecosystem and that opportunities exist for innovation and development in these fields. The potential for job creation opportunities would also arise from the production of new set top boxes, required for migration to digital television signal distribution in South Africa.
On 15 July 2010, Nippon Telegraph and Telephone Corporation (“NTT”) Dimension Data Holdings plc (“Dimension Data” or “DiData”) announced that they have reached agreement on the terms of a cash offer to be made by NTT for 100% of Dimension Data. The offer, totalling approximately GBP 2.1 billion (R24.4 billion), was unanimously recommended by both Boards of Directors. Andile Ngcaba, Chairman of Dimension Data’s Middle East and Africa business (“DDMEA”), as well as of its minority shareholder Convergence Partners, is excited about the deal and how its positions DiData in his region. “With access to the resources, products and R&D of the NTT Group, DDMEA is better positioned than ever to grow its presence and capitalise on new and fast growing market opportunities, such as cloud computing. The deal is great for the country and the company”.
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