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Poynting shares rise over 12%

After acquisition news.

Shares of Poynting Holdings rose more than 12.17% (by 11:39) after the small-cap communications firm said it will buy Radio Network Solutions (RNS) for R110 million.

The company says the acquisition will help expand its Cellular Coverage Solution (CCS) business.

“RNS already has a significant presence in the network operator coverage solution market, with clients in the network operator and infrastructure industries, and is therefore better equipped to market the Poynting CCS range to this important segment,” the company says.

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