SIMEKA BSG

The IT service provider, formally known as Xantium, has started the year with quite a few changes including a name change to Simeka BSG and a merger with Mict Solutions.

The Simeka acquisition was first announced in September last year, when the then Xantium company said it would pay a maximum of R33.9 million for the company. Originally announced in October, the Mict Solutions acquisition carried a R78 million price tag. Linked to that deal is the acquisition of 100 percent of Motoma Mithratech for a maximum of R18 million, based on an ear-out formula. The changes will see Robinson Ramaite, Barry Henry Fraser and Tozamile Botha form part of the newly appointed Semeka BSG board as non-executive directors, joined by Mohammed Varachia, Surendranath Singh, Madoda Papiyana and Kamal Ramsingh as executive directors.