Dimension Data shareholders have voted overwhelmingly in favour of Nippon Telegraph and Telephone’s (NTT’s) £2.1 billion offer, with shareholders owning 93.42% of DiData shares accepting the deal. With the approval phase of the transaction now complete, Convergence Partners looks forward to an exciting new era for Dimension Data, especially in the fast growing African market.

Dimension Data said in mid-July that it had received a R24.2 billion buyout offer from NTT. Shareholders had until the close of trade [PUT IN DATE] to indicate whether they would accept the bid. The merger will create one of the world’s largest integrated telecoms and technology groups, speed up DiData’s growth strategies, and give NTT a platform to expand into markets outside of the Far East, including Africa and the Middle East.

“By leveraging the complementary strengths of both companies and by leveraging our synergies, we will provide global, high quality, end-to-end ICT services across the services lifecycle,” says NTT president and CEO Satoshi Miura. “Also, we strongly believe we will accelerate the execution of our strategies to achieve our shared vision.”

DiData chairman Jeremy Ord adds that the “acquisition process proceeded smoothly and we are excited to start charting the journey ahead”. CEO Brett Dawson is “eager to work closely with NTT to begin providing a mutual value proposition to our clients and developing new value that helps solve our clients’ IT and business challenges”.

NTT will now request DiData to proceed with cancelling its listings on both the London and Johannesburg stock exchanges.

See attached press release

Article in ITWeb

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.

NTT, one of the largest global telecommunications service providers in the world, has limited presence in certain emerging markets where Dimension Data is very strong, specifically Africa and the Middle East. The transaction is a huge vote of confidence in DiData, South African and Africa, and the rationale of both parties is to capitalise on the significant growth opportunities that are unfolding.

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 this 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”.

See attached press release