Internet service provider (ISP) DataPro Group has issued a cautionary notice saying it is in "advanced acquisition negotiations".
DataPro announced in March that it had made its first acquisition since listing on the JSE`s AltX exchange in October last year.
The company bought, with effect from 1 September 2004, the monthly annuity revenue, customers and intangible assets of ISP Wickhit.
The value of that deal was R1.13 million, subject to upward or downward adjustment, depending on the value of monthly annuity revenue at 1 July.
At the end of February, DataPro had cash and cash equivalents of R3.68 million.
DataPro, a niche telecoms company and business ISP founded in 1998, operates in four areas - the core ISP business, voice, electronic marketing and micro-outsourcing.
The group came to market at 55c a share with a market capitalisation of R125 million. The share`s first trade took place at 63c. It reached a high of 92c in November and a low of 44c in May.
The share closed at 61c yesterday, unchanged from Wednesday`s close, giving DataPro a market capitalisation of R139.7 million.
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