EOH acquires Powertech for an undisclosed amount
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CAPE TOWN - Africa’s largest technology and services provider EOH has acquired the business of Powertech Systems Integrators, IST, for an undisclosed amount.
The deal, led by the industrial technology division of EOH would enhance the group’s geographical reach and energy portfolio of integrated and smart resilient energy solutions, the company said in a statement yesterday.
Powertech Systems Integrators is a system engineering business that operates predominantly in the energy sector with customers that include large energy users and power utilities in South Africa and sub-Saharan Africa.
The business generates annual revenue of more than R300 million and has an active customer base of more than 250 companies across South Africa and the rest of Africa.
Powertech Systems Integrators chief executive Hennie du Plessis said: “We are delighted to be joining EOH. Both our companies have a strong and growing presence in Africa and EOH’s customer base in the local and international markets will expose us to significant new opportunities.
“We share a passion for entrepreneurship and technology with EOH, and we can see significant growth potential for our business and our people through this venture.”
Meanwhile EOH group chief executive Zunaid Mayet welcomed the IST team saying: “We are excited at the prospect of continuing to build on their presence across the continent as part of the EOH growth strategy.
The IST smart-grid portfolio is a complementary and great addition to EOH’s offerings that will further grow our digitalisation, analytics and IoT offerings for the energy sector.”
The deal was approved last week by the competition tribunal without conditions.
EOH, which aims to expand its footprint in Africa and the Middle East, said earlier this year: “We will continue to expand in Africa and the Middle East. We will continue to develop, distribute and implement EOH’s niche software and own IP solutions across our existing footprint and into new territories.”
- BUSINESS REPORT