Johannesburg - Datatec, the listed technology group, had made two more offshore acquisitions at a total cost of more than R1 billion, the company said yesterday.
Andrew Smith, the marketing director, also confirmed that the company was assessing its options for a FTSE or Nasdaq listing this year.
Datatec said it had bought Satelcom, a UK networking company, for a maximum of R410 million at current exchange rates. Datatec also said Logical Networks, its subsidiary, had agreed to acquire US-based Bloomfield Computer Systems (BCS) for no more than R612 million.
The local market reacted favourably, but analysts were cautious. One said that while Datatec was on track with its acquisition strategy, the cost of the offshore companies had been surprisingly low.
"This has led to the overseas companies showing misleadingly low p:e ratios, but making Datatec's earnings rocket at home," the analyst said.
The acquisition trail follows the company's strategy of investing offshore in developed markets, leaving just 21 percent of its operating profit originating in South Africa.
Satelcom represents Datatec's fourth UK systems integration acquisition and means Datatec now has one of the UK's largest network systems integration groups with combined revenues in excess of #120 million.
Jens Montanana, the executive chairman of Datatec, said: "We are delighted to be acquiring Satelcom. It complements our own systems integration businesses as well as our significant international exposure, especially in Europe, Australia and South Africa."
BCS, to be bought by Logical Networks, is an independent computer systems and network integration company based in Michigan. Datatec said the acquisition of BCS would propel Datatec's systems integration arm Logical into a position of prominence across the US.
The analyst said there was an investment risk since Datatec did not have good transparency.
"There have been so many acquisitions that it is impossible to know how the underlying operations are performing. For all we know Datatec could be buying terrible companies. A hugely acquisitive strategy is not always a positive factor."
In the past six months alone Datatec has undertaken four offshore acquisitions, one local acquisition and five significant joint venture opportunities.
Datatec gained 160c, or 2 percent, yesterday on the JSE to close at R81, compared with the sector's 0,91 percent rise.