Velocity Group acquires majority stake in MLC Solutions

Local strategic specialist ICT reseller and systems integrator, the Velocity Group, has acquired a majority stake in IT services business, MLC Solutions.

Jonathan Kropf (pictured), Group CEO of Velocity Group, has said that the acquisition will add significant services revenue to the group, and that it is in line with the company's goal to derive half of its group earnings from services within the next three years.

The transaction comes into effect tomorrow, 1 November 2017.

The value of the deal has not yet been disclosed.