Altron says to acquire iS Partners R225 million deal
JOHANNESBURG - Allied Electronics Corporation Limited said on Monday it had concluded a share sale agreement, through its wholly owned subsidiary Altron TMT, to acquire the entire issued share capital of iS Partners in a deal worth R225 million.
It said the acquisition, with an anticipated effective date of July 1, was subject to Competition Commission approval.
"This acquisition will enable us to create a Microsoft-focused business within Altron with a special focus on cloud computing and data analytics," Altron group chief executive Mteto Nyati said.
"The acquisition will add scale and a new suite of solutions and capabilities enabling customers to digitally transform their businesses through Microsoft technologies."
The deal includes the acquisition of Karabina Solutions, a Microsoft solutions business, and Zetta Business Solutions, which provides data advisory services.
Founded in 1965, Altron has a direct presence in 8 countries, including South Africa, the UK and Australia, on four continents through its various businesses.
The group’s strategic partnerships with leading international technology companies also give it access to leading technology capabilities and products from across the world, including Asia, Europe and North America.
Information Systems Partners (iSPartners) is the holding company for Karabina Solutions, Zetta Business Solutions and It’s About People. Founded in 2001, the iSPartners group of companies has grown to over 200 employees and it services corporate customers mostly across southern Africa.
- African News Agency (ANA)