JAG purchase provides Pinnacle with new capacity
Pinnacle Technology had acquired 90 percent of JAG Engineering for an undisclosed sum, Pinnacle said yesterday.
Nico Steyn, the managing director of Pinnacle subsidiary Datanet, said JAG presented strategic synergies.
“[JAG] will give us the productive capacity that will underpin our drive into the data centre design and build space. This market is becoming increasingly relevant with the current proliferation of cloud infrastructure and data consolidation,” Steyn said.
Pinnacle did not reveal the value of the deal, saying it was below the value of the minimum threshold for category two transactions as stipulated by JSE listing requirements. Pinnacle closed 1c down at R17.01. – Asha Speckman