Wireless Business Solution (WBS) announced as early as September of last year (2014) that it was looking at three different bids which were aimed at the acquisition of its company and this was when the news of a potential sale began to make the rounds. More than a year later, the sale is now finally expected to go through.
Having announced then that of the three bids which they were considering, only one met their requirement and taste and thus was the winning bidder, this winning bidder was unveiled back then to be none other than MultiSource.
MultiSource has been keen on the acquisition of Wireless Business Solution since then. The acquisition would see Multisource take charge of WBS’ facilities 100% and would also grant them the rights to iBurst which is operated by WBS.
The Independent Communications Authority of South Africa (ICASA) has approved the sale between Multisource and WBS which means that anytime from now, the total acquisition would take place.
With Icasa approving the deal yesterday (30th October), we should be expecting to see the deal finalized before the end of next week as the necessary routines have been satisfied now.
The shareholders of MultiSource, the acquiring company, include notable names such as Paul Harris, Phumlani Moholi, Michael Jordaan, and Brandon Leigh.