Lindicom Proprietary Limited agreed to acquire an unknown majority stake in SGRP Meridian Ltd from SPAR Group, Inc. for approximately ZAR 180 million.

Lindicom Proprietary Limited agreed to acquire an unknown majority stake in SGRP Meridian (pty) Ltd from SPAR Group, Inc. (NasdaqCM:SGRP) for approximately ZAR 180 million on April 1, 2024. Prior to this transaction, Lindicom was a holding a unknown minority stake in SGRP Meridian. In a separate transaction, An Unknown buyer agreed to acquire the remaining stake in SGRP Brasil Participações Ltda for approximately ZAR 220 million.

As part of the divestiture agreements, Australia and The Meridian Group have also entered into software as a service (SAAS) agreements with SPAR Group to continue the use of SPAR?s technology. These transactions have been approved by the SPAR Board of Directors and are expected to close in the second quarter.