On The Money - In Brief

Mergers, Acquisitions and Financial Results

- SA's Black information technology (IT) firm Mthombo IT Services (M-IT) has bought 26 percent of unlisted Advanced Consumables Technology (ACT) for an undisclosed amount, the company said last week, adding that it would be fighting for public sector business.

- Altron reported another set of satisfactory results for the year ended 29 February 2004 despite some adverse economic conditions both locally and abroad. Strong advances were also made in terms of its Black Economic Empowerment (BEE) and acquisition programmes, says Dr Bill Venter in his Chairman's Statement of Altron's annual report for 2004 which has just been released.

- Congo-Brazaville's Sotelco has increased its operating capital from FCFA200 million to FCFA5.2 billion FCFA.