The deal will be concluded through Internet Solutions’ parent company Dimension Data for an undisclosed sum, with the transaction subject to approval from the SA competition commission.
In an email statement to clients MWeb welcomed the deal saying, “Internet Solutions is firmly established as a leading provider of information, technology, and communication services – this partnership will give us an increased presence in the consumer segment of the market and allow us to grow our product and services offering,”
MWeb is currently owned by Multichoice, a subsidiary of Naspers, and has 325 000 customers across South Africa.
“MWeb is one of South Africa’s largest consumer ISPs and this acquisition will immediately give Internet Solutions a presence in the large and rapidly growing consumer market,” says Internet Solutions Managing Director, Saki Missaikos.
Pending the necessary approvals, the deal is scheduled to be concluded in the first quarter of 2017.