Ac­qui­si­tion to en­hance group’s reach

The Star Early Edition - - COMPANIES -

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 yes­ter­day. Pow­ertech is a sys­te­mengi­neer­ing busi­ness that op­er­ates pre­dom­i­nantly in the en­ergy sec­tor with cus­tomers which in­clude large en­ergy users and power util­i­ties in South Africa and sub-Sa­ha­ran Africa. The busi­ness gen­er­ates an­nual rev­enue of at least R300 mil­lion and has an ac­tive cus­tomer base of more than 250 com­pa­nies across South Africa and the rest of Africa. Pow­ertech 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.” 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…” The deal was ap­proved last week by the com­pe­ti­tion tri­bunal. EOH, which aims to ex­pand its foot­print in Africa and the Mid­dle East, said ear­lier this year: “We will con­tinue to de­velop, dis­trib­ute and im­ple­ment EOH’s niche soft­ware and own IP so­lu­tions across our ex­ist­ing foot­print and into new ter­ri­to­ries.” The com­pany’s shares closed 1.53 per­cent lower at R103 on the JSE yes­ter­day. – Sizwe Dlamini

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