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Blue Label Telecom (BLT) is gearing to purchase just about 75 percent of Malik Investment Holdings’ shareholding in Via Media.
Via Media’s technology platform connects to all South African mobile network. It offers services which include mobile terminate and originate as well as premium-rated SMS, online billing, multimedia messaging, WAP and Web services, unstructured supplementary services data (USSD) and interactive voice response (IVR).
Via Media also offers its partners the ability to sell mobile entertainment, information and communication services to consumers through a variety of media and technology channels.
Now that BLT has access to the services offered by Via Media, it will access new channels for the distribution of both Via Media and BLT products and services.
The whole transaction cost BLT R144.3 million as an initial payment and other payments which totalled to R103,125-million if warranted profits are achieved by Via Media during a 36-month warranty period. An additional R112,5-million or part thereof will be payable if stretched targets over and above the warranted accumulated profits are achieved.
