Dimension Data (Didata) announced on Monday that it will buy Worldwide African Investment Holdings' 51 percent stake in telecommunications company Plessey for R120-million in cash.

Plessey is a leading supplier of telecommunications solutions to the African continent and has undertaken projects in 19 African countries with regional offices currently in eight countries: South Africa, Nigeria, Democratic Republic of Congo, Uganda, Tanzania, Malawi, Zambia and Mauritius.

The complementary nature of Dimension Data's and Plessey's skills and experience, together with Plessey's established African footprint, provides a strong market offering to the telecommunications industry throughout the continent, Didata said.

Dimension Data has held its existing 49 percent shareholding in Plessey since 1998.

As at March 31, 2005, Plessey had gross assets of R406.1-million and generated turnover of R890-million and profit before tax of R67.4-million in the year to March 31, 2005.

Shares in Didata ended unchanged at 425 cents on the JSE on Monday.

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