The successor company to IBM South Africa, Information Services Management Pty, has entered into an unholy alliance with the local marketer of Hitachi mainframes, Reunert Computers Pty in order to raise the money to pay off the loan made to it by IBM at its formation in October 1986. Reunert, 80% owned by trading giant Barlow Rand Ltd, is to be merged with Information Services Management to create Technology Systems International Ltd, which is to be listed on the Johannesburg stock exchange. According to the Financial Times, Reunert holders will then have 32% of the new company, Barlow itself having 26%; the IBM successor will retain about the same amount, selling the balance of its shares to raise mon-ey to repay the loan from IBM. The new company will have about 70% of the South African market, but plans to operate the IBM and Hitachi sides of the business autonomously.
