UNISYS CONCLUDES BEE TRANSACTION WITH CKS

Mergers, Acquisitions and Financial Results

Unisys Africa, a subsidiary of Unisys Corporation, completed a BEE transaction on Tuesday, by selling 30% of its shares to Cyberknowledge Systems (CKS), a black-owned consultancy company.

“This transaction has transformed Unisys Africa into a broad-based black empowered enterprise,” says Barry Holt, MD, Unisys Africa. “As a result, Unisys Africa is in a significantly better position to expand its entire customer base, while providing more extensive technical and strategic consulting services.”

The alliance between the two companies aims to create a broader portfolio of IT services and solutions that can support clients’ needs. “CKS and Unisys strengths complement each other, and together we will offer clients enhanced solutions to their most challenging needs,” says CKS chairman, Mohamed Madhi.

The Unisys board of directors will include several CKS representatives. Holt will continue in his position as MD of Unisys Africa. Investec Bank, which provided CKS with the funds for the transaction, has also acquired a 25% interest in the holding company of CKS.

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