Multisource linked to iBurst acquisition bid

17 Oct 2014

South African technology firm Multisource has reportedly made an offer to acquire Wireless Business Solutions (WBS), the parent of South African wireless broadband operator iBurst, TechCentral reports, citing Multisource chairman and shareholder Phumlani Moholi. ‘We are at a sensitive stage of the transaction and bound by confidentiality. However, we are willing … to share more information once we have more clarity’, Mr Moholi disclosed, adding that the conclusion of the deal is subject to a financial and technical due diligence and the fulfillment of certain conditions.

As previously reported by TeleGeography’s CommsUpdate earlier this week WBS director David Hilewitz confirmed that an unnamed bidder had made a firm offer to acquire the company.

South Africa, Rain (Multisource/WBS)