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UK's StatPro Group ups stake in South African software provider to 100%

StatPro Group Plc acquired the remaining 27.3% stake in South Africa-based software provider InfoVest Consulting (Pty.) Ltd. for a cash consideration of 30.4 million South African rand, taking its stake in the company to 100%.

London-based StatPro Group, which previously had a 72.7% stake in InfoVest Consulting, said the acquisition is expected to be earnings enhancing in the current year. The group initially took a majority stake in InfoVest in March 2016.

As of Feb. 23, US$1 was equivalent to 11.56 South African rand.