DVT, a business software solution provider from South Africa, has acquired a 66.7% stake in Offline Digital, a content management developer. DVT or Dynamic Visual Technologies, is listed on the JSE's AltX. They provide a number of services including software development, business process management, document management, crm, time management and professional services consulting. In addition, they have a number of solution packages.
They have acquired their stakehold in Offline Digital for a mere R1.4 million cash.
Offline Digital is a company that specializes in developing solutions for content management. They attained Top 100 Technology status during 2003 - 2005. That's pretty good considering they opened their doors in 2003. Offline Digital's solutions enable the publishing of high-value content in multiple formats over a range of channels.
This acquisition is normal for DVT who has a strategy of acquiring niche software companies.
"This transaction will accelerate our growth, ensure we are BEE-compliant and reduce our funding requirements," says Offline Digital MD Ryan Morison. "We already conduct the bulk of our business in Gauteng. As part of DVT, we will find it far easier to sell to and support Gauteng-based clients, and enjoy the benefits of economies of scale and shared infrastructure, and of being part of a listed entity. In addition, there is much we can learn from them because of their experience in the market in general and in selling their own IP in particular."
DVT has the option of purchasing the rest of Offline Digitals shares within two years.