Technology company Altron, formerly known as Allied Electronics Corporation Limited, said yesterday that the Competition Tribunal had approved the acquisition of digital signature services company Lawtrust from Etion, creating a leading security services provider.
Altron said Etion and Altron would be fulfilling the remaining conditions precedent, which are administrative in nature, to ensure that the effective date of the acquisition would be October 1.
The R245 million deal would see Lawtrust being integrated into Altron, which also acquired identity management market leader Ubusha Technologies in 2019, to form Altron Security.
Altron chief executive, Mteto Nyati, said the acquisition of Lawtrust positioned Altron Security as a one-stop shop for digital and information security.
Lawtrust is a digital trust services and cyber information security solutions company which provides solutions used to verify the authenticity of digital identities and counter-party systems in transactions, data encryption, digital signatures, as well as biometrics.
Lawtrust provides services to over 500 customers in the private and public sectors and is an internationally certified Certificate Authority for the provision of publicly trusted digital certificates and digital signatures.
Altron Security is also establishing a local presence in the UK where its offerings are in demand.
BUSINESS REPORT