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.