The “surprising” amount Vodacom paid for IoT.nxt
Vodacom acquired a 51% equity interest in IoT.nxt for a maximum consideration of R1.028 billion, of which R469 million was settled in cash, on 23 August 2019.
The remainder of the money, outside of the R469 million in cash, is contingent on the future performance of the business.
The deal includes R590 million of goodwill and a trademark of R13 million recognised with the acquisition of IoT.nxt.