The Tribunal has conditionally approved the large merger whereby Magnesium Bidco Limited (“Magnesium”) intends to acquire Mimecast Limited (“Mimecast”).
 
The Tribunal has approved the merger subject to conditions involving the target group’s continued contribution to skills development, supplier development, enterprise development and socio-economic development initiatives.
 
Magnesium is registered in accordance with the laws of England and Wales. Among others, the acquiring group is active in the broader market for the supply of information technology (“IT”) services in South Africa.
 
Mimecast is registered in accordance with the laws of Bailiwick of Jersey. The target group provides cloud security and risk management services for email and corporate information to enterprise customers.
 
A detailed press release will be issued in due course.