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Afrihost's acquisition of Cool Ideas gets approved
The Competition Commission has unconditionally approved the proposed merger of Afrihost and Cool Ideas. "The Commission found that the proposed transaction is unlikely to result in a substantial
prevention or lessening of competition in any relevant markets. The Commission further found
that the proposed transaction does not raise any public interest concerns," the organisation said.
It was first reported in June that Afrihost and Cool Ideas have concluded a deal where Afrihost will buy a majority stake in Cool Ideas.
Cool Ideas will continue operating as a stand-alone brand and business with the same management team and employees. All original shareholders of the ISP, including founders Andre Jooste and Paul Butschi, will retain stakes in the company.
Afrihost is an internet services provider that provides various internet related services, including retail supply of internet access services to residential and small businesses, voice over internet protocol services, data hosting services and ancillary services, and mobile voice and data services.
Cool Ideas is an ISP that provides retail internet access services to house users, small businesses and large businesses.
Afrihost's acquisition of Cool Ideas will make it a significantly bigger player in the South African fibre ISP market.
