Business Connexion sells Q LINK for R187.5m
Business Connexion has sold its interest in the Q LINK business to Summit Garnishee Solutions for R187.5m in cash.
The effective date of the disposal is 1 September‚ Business Connexion said on Thursday (5 September).
Q LINK provides a one-stop collections platform to overcome the complexity of disparate interfaces to a variety of collection channels‚ including bank debits and payroll deductions.
Business Connexion said Q LINK had grown to the extent that its future vision and strategy required greater alignment with the financial services sector.
As a result‚ Q LINK no longer formed part of the core business of Business Connexion and the board decided to sell it.