Johannesburg - Shares of Poynting Holdings rise more than 9 percent after the small-cap communications firm says it will buy Radio Network Solutions (RNS) for 110 million rand.
The company says the acquisition will help expand its Cellular Coverage Solution (CCS) business.
“RNS already has a significant presence in the network operator coverage solution market, with clients in the network operator and infrastructure industries, and is therefore better equipped to market the Poynting CCS range to this important segment,” the company says.
Poynting shares are up 9.1 percent at 2.9 rand. - Reuters