Fijian Holdings Limited (FHL) today announced the acquisition of Clariti (South Pacific) Limited after it signed the Sale and Purchase Agreement to acquire 100% of the issued shares of the company from its current shareholders, Clariti Pty Limited and Bay of Island Fisheries Limited.

FHL Managing Director Mr. Sitiveni Weleilakeba said that the acquisition was based on the underlying technical strength of the company to be major player in Fiji's IT industry. "This investment marks the entry of FHL into the IT market and signifies our intention to part of a growing and dynamic sector," he added. As part of the sale, FHL intends to allocate 40% of the shares in the company to a strategic partner and the Fijian Holdings Unit Trust.

Clariti (South Pacific) Limited is a private company. The main operation of which includes the provision of computer software and related hardware and ongoing management services. "Clariti currently has an established client base and with the network of Fijian Holdings Group, we expect to expand this base extensively," said Mr. Weleilakeba. The new company will be positioned to benefit from the current growth in the IT industry in the Fiji market and the region.

As part of the acquisition, the company name will be changed and technical support from Clariti Pty Limited Australia will still be available on a "user-pay" basis. The new company will be closely working with other FHL companies to realize synergies and pursue other value adding opportunities.