Electronics and communications group Altech has sold a 30% stake in its radio distributions unit Alcom to black empowerment company Matomo. The deal, worth an undisclosed amount, forms a new company, Alcom Matomo.
The news comes three weeks after French telecommunications group Alcatel announced a 30% sale in its SA subsidiary to a black empowerment partner. Altron and Alcatel were previously joint venture partners and their combined entity was one of the largest suppliers of telecommunications equipment to Telkom.
Alcom is owned by Altech, a JSE-listed telecommunications group with a turnover of around R4 billion. Alcom principally supplies equipment from US telecoms giant Motorola.
A statement released by Alcom today says a recent achievement by Alcom Systems was the installation of a Digital Terrestrial Trunked Radio (TETRA) system for the City of Cape Town. This multimillion-rand project was the first TETRA public safety system in Africa, it says.
The Matomo ICT Group, formerly known as the Ikwezi Group, is a black-owned and managed group of companies operating in the telecommunications, IT, multimedia and electronic products, distribution and ICT investment arena. Its turnover, excluding investments, is over R100 million.
Craig Venter, CEO of the Altech Group, believes the empowerment deal was based on excellent fundamental business synergies. "The already significant working relationship between Alcom Systems and Matomo will be strengthened by the closer involvement at both shareholder and operational levels."
Venter says he views the Matomo Group as a strong and worthy associate with whom Alcom Systems could move into the future.
"Matomo has already demonstrated a true willingness to play its part in the success of transformation. Headed by an astute management team which, importantly, plays an active role in all its business activities, we at Altech recognise that Matomo is an ideal partner with whom Alcom Systems can pursue a vision of equity ownership and wealth re-distribution."
Venter says he is convinced the new Alcom Matomo will retain and grow its strong position in the field of radio communication.
Thozamile Botha, executive chairman of the Matomo ICT Group, says: "In the past, both Alcom Systems and VRG Telecommunications, a subsidiary of the Matomo ICT Group, pursued a similar customer base. This new partnership, which is expressed through Alcom Matomo, will present a win-win situation for both companies."
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