TeleMasters is on a buying spree as the company has acquired three companies in about a month.
The JSE listed company announced today that it has acquired a 100% shareholding in two local ICT companies.
The company has acquired 100% of specialist networking systems integrator PerfectWorx Consulting, and specialist wholesale voice platform provider Contineo Virtual Communications, pending regulatory approval.
PerfectWorx Consulting, launched in 2007, is a networking systems integrator specialising in next-generation IP technologies. The company is currently stepping up its partnerships and is expected to deliver growth.
Contineo Virtual Communications is a provider of wholesale cloud communications in South Africa, offering complete unified communications and enterprise-grade collaboration tools that address local market data sovereignty and privacy concerns. The company’s wholesale voice platform is enjoying solid growth, and supports a new flagship Unified Communications offering expected to see strong uptake amid the pivot to remote work.
Contineo and Perfectworx have been suppliers to TeleMasters since 2010, and in recent years have played a key role in assisting TeleMasters to roll out its complete digital solutions offering to its customers.
Last week, TeleMasters bought 25% stake in data centre specialist ConexLink. The acquisition by TeleMasters came into effect on 1 June 2020. For more read: SA’s TeleMasters Buys 25% Stake in ConexLink
TeleMasters CEO Jaco Voigt says the acquired companies will retain their branding and continue to operate as independent entities.
The integration of new businesses into the TeleMasters Holdings group delivers new opportunities to offer expanded and integrated solutions and allows its shareholders to benefit from a wider portfolio.
“TeleMasters is increasing its focus on both shareholder and customer value, so we are growing our portfolio into high demand sectors,” says Voigt.
“In line with a changing local and global market, TeleMasters has evolved beyond its initial focus on voice communications, into a broader ICT, infrastructure, cloud and data centre provider. Technology has evolved and converged, and no business can afford to be a one dimensional service provider. We have a renewed and active strategy to grow our portfolio to enable multi-dimensional communications and ICT services and solutions.
“The TeleMasters Board is of the opinion that the acquisition of these key suppliers will secure the company’s ability to continue to provide a unified and competitive product offering to its customers.”