Dimension Data has made an open market offer to purchase 100% of the issued share capital of AccessKenya for KES14.00 per share. Based on the 218 million shares in issue, this is equivalent to KES3.052 billion. The offer is:
AccessKenya shareholders will also be entitled to receive the final dividend of KES0.30 per AccessKenya share proposed by the AccessKenya board in respect of the year ended 31 December 2012.
The AccessKenya Group was founded by brothers David and Jonathan Somen, and was one of the first ISPs to launch in Kenya in 2000. The company, which was also the first ICT company to list on the Nairobi Securities Exchange, employs 340 staff, and provides predominantly connectivity-based data services to about 5,000 corporate customers in Kenya. These customers range from large multinationals, government agencies, NGOs, as well as a large cross section from industries across the economy.
Dimension Data currently operates in Kenya through subsidiaries Dimension Data Kenya, Internet Solutions Kenya, and Plessey Kenya and intends to merge its Internet Solutions Kenya business into Access Kenya. Internet Solutions is a leading network service provider in sub-Saharan Africa with investments in South Africa, Kenya, Mozambique, Nigeria and Ghana. The company has a network presence in a further 10 sub–Saharan African countries. Leveraging its 1,500 employees, Internet Solutions focuses on providing managed network and cloud-based services to a predominately corporate and multinational client base.