Allied Technologies (Altech) has bought ComTech for R90 million, for its Altech Netstar Fleet Management System, says Andy Baker, MD of Altech Netstar.
ComTech is a fleet management operator, with products and services complementary to those of Altech Netstar Fleet Management Services.
Altech says the addition of ComTech's subscriber base will double the Altech group's overall fleet management customer base.
ComTech employs about 140 staff members.
A new holding company will be created in which Altech will hold 75% and empowerment partner Nariku 25%. Both Netstar and ComTech will be wholly-owned subsidiaries of this new holding company - to be called Altech Netstar Fleet Management Holdings.
"We view the acquisition as an opportunity not only for the expansion of Altech Netstar Fleet Management Services, but also for the longevity and growth of ComTech's formidable team and first-rate customer base," says ComTech MD Brian Edmonds in a statement:
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