Share Deal Brings South African Firms Closer

South African company FoneWorx has bought a 44% stake in quant and qual agency Living Facts, for an undisclosed amount.

The deal will enhance FoneWorx's recently-created Knowledge 350 degrees unit, which is part of its MediaWorx division and combines technology and business planning advice. FoneWorx will reciprocate with technical and mobile services for Living Facts.

FoneWorx CEO Mark Smith says market research is a key part of Knowledge 350 and the buy will bring skills include including qual, quant, ethnographic panel and omnibus. In particular, he welcomes the experience of Living Facts' three senior directors, Marylou Kneale, Nosipho Gama and Heidi Clowes.

The buy, which is subject to due diligence but expected to complete within two weeks, will give FoneWorx a seat on the board of Living Facts. The latter firm will continue to operate as a standalone entity, but FoneWorx has an option to increase its stake.

Founded in 2001, Living Facts is online at www.livingfacts.co.za ; while FoneWorx, which says it is looking for further acquisitions, is at www.foneworx.co.za .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.