Vox Telecom announced on Tueday that it has acquired a majority stake in Everlytic, an enterprise level cloud tech company, for an undisclosed amount. By Gugu Lourie
Everlytic will operate as a standalone business division within Vox Telecom, retaining its highly skilled team of developers, creatives and marketers.
The Vumela Fund, which is managed by FNB and Edge Growth, will retain the minority stake it acquired in Everlytic in 2013.
The deal would enable Vox Telecom customers to leverage the skills and expertise of the Everlytic team to extend and enhance their digital footprint.
“The addition of Everlytic completes our portfolio of products and solutions that allow customers to communicate via any delivery channel – email, fax and SMS. They also add significant intellectual property (IP) in campaign management and success that we are keen to leverage,” Jacques du Toit, CEO of Vox Telecom
Vox, which was delisted from the JSE’s AltX in 2011 after a R500m buyout by shareholders including Lereko Metier Capital and Investec, offers voice solutions, data access and internet service provider (ISP) services, cloud services, a variety of PABX (private automatic brand exchange) and video conferencing services, telephony management systems, faxing and text messaging applications. PABX is an automatic telephone switching system used by corporates.
Vox Telecom is one of the only remaining relatively big telecoms operators and internet service providers in the country that have not been acquired by bigger operators. It seems to be surviving the consolidation phase in the ICT market.
It is also one of the few local companies that is still profitable despite being bought by private firms and delisted from the JSE. There are many horror stories out there of companies, which were bought and delisted. Some ended up with serious debts.