CS Holdings acquires Idion Solutions

August 2002 News

CS Holdings has acquired Idion Solutions, the software integration and development subsidiary of the Idion Technology Holdings, for an undisclosed amount. The transaction remains subject to certain conditions being fulfilled and will not have a material effect on the assets or earnings of either CS Holdings or Idion Technology Holdings.

According to CS Holdings CEO, Annette van der Laan, this acquisition will add value to CS Holdings' existing skills base and service offering and should contribute approximately 4% to the company's annual revenue.

"Idion Solutions is a niche business that will complement our existing offering; its resources and experience will be of great value to CS Holdings and its customers. This acquisition will further enhance the sustainability and critical mass of the CS Holdings consulting business."

Idion Solutions is a provider of business optimisation solutions and services, using Microsoft Technology. The company is a Microsoft Gold Certified Partner and was also the first Microsoft.NET preferred partner in South Africa.

For more information: CS Holdings, 011 205 7000, mbijman@cs.co.za

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