Convergence Partners exits Dimension Data

27 Jul 2017

Convergence Partners Investments (Convergence Partners) - an investment firm focused on the TMT sector in Africa - has exited its investment in specialist IT services and solutions company, Dimension Data Middle East & Africa (DiData).

Convergence Partners first invested in DiData in 2004 as part of the original DiData B-BBEE transaction and remained invested until June 2017. The contractual investment term ended in September 2016 and Convergence Partners and DiData negotiated a consensual exit to the investment.

Convergence Partners has now fully exited its shareholding in DiData and Andile Ngcaba has stepped down from the various group Boards on which he served and as Executive Chairman of DiData.

Convergence Partners continues to invest in TMT companies across sub-Saharan Africa that it believes will deliver enhanced returns for investors, while underpinning continental development.

About Convergence Partners

Convergence Partners is a pan-African ICT–focused private equity player, delivering enhanced investment returns while underpinning Continental development. Convergence Partners has a proven track record of developing new investment opportunities as well as actively adding value to investments across the lifecycle of ICT assets. As impact investors, Convergence Partners brings its skills, experience and capital to accelerate ICT infrastructure development on the Continent, focusing on initiatives that increase availability of communications, broadband services and new technology offerings to the people of Africa.

 

For more information, visit http://www.convergencepartners.com/

« Back to Member News

We are proud to announce that the Nigerian Stock Exchange @nsenigeria has joined #AVCAAfrica | Nigeria is set to s… https://t.co/tRyd3yWFox

Congratulations to @AfricInvest_Grp for winning the Small Cap Exit of the Year award @PEAfrica_ awards for… https://t.co/oFdhtfDOez

#AVCAAfrica member African Infrastructure Investment Managers is the continent's most experienced #equity investor… https://t.co/vfw7BN0BME

Verod Capital Management's vehicle for investing in education drives impact across K12-education in West Africa thr… https://t.co/Y954mI59AG

Amethis Finance was presented with the Mid Cap Deal of the Year award @PEAfrica_ 7th Awards! Amethis acquired a min… https://t.co/dpe4bcqm7M

;