Westcon Group, Inc. acquired the assets from Verecloud, Inc. (OTCPK:VCLD) for $12 million on September 4, 2014. The acquisition consideration will be settled through the issue of Datatec shares in three tranches, with the first tranche consisting of the allotment of 1,998,831 ordinary ZAR 0.01 shares. The second and third tranches are dependent on a number of conditions and will become payable one and two years after the transaction date, respectively. The platform will be incorporated into Westcon's Cloud Solutions Practice and form the foundation for its cloud go-to-market solution which is designed to help resellers drive significant revenue from cloud-enabled services. Nick Adams and Alex Collins of Jefferies International Limited acted as financial advisor, Frederic Cornet, Bianca Samson, Adrian Duffield and Chantal Woolcock Instinctif Partners acted as public relationship advisor and Tom Jenkins and Henrik Persson of finnCap acted as broker for Datatec Limited (JSE:DTC).

Westcon Group, Inc. completed the acquisition of assets from Verecloud, Inc. (OTCPK:VCLD) on September 4, 2014.