Tech giant solidifies its stake in the unified communications sector and ventures into alternative energy
In deals amounting to R125 791 000, JSE-listed technology investment group, Ayo Technology Solutions (AYO), announced today via SENS, that it is intending to acquire a 100% shareholding in Kathea Communication Solutions and a 60% stake in Kathea Energy.
The acquisitions, part of AYO’s long planned for expansion, will see the group take a commanding position in the rapidly evolving unified communications sector, and its first foray into the alternative energy space.
Commenting on the transactions, Howard Plaatjes, Chief Executive Officer of AYO said: “AYO is looking to invest in disruptive technology that can add value to South Africa and assist the country in dealing with a future that includes smart living and smart working. South Africa is also heavily impacted by climate change and a lack of a reliable supply of energy. Clean and renewable energy has become an imperative, and demand will continue to grow as the planet’s resources are depleted, especially if we do not come up with the necessary solutions, now.
“These transactions support the Group’s thinking in regard to our own meaningful contribution towards South Africa’s people-planet sustainability, and as such, we are looking forward to welcoming Kathea Communications and Kathea Energy into the Group.”
Kathea Communications is a value-added distributor of voice, audio visual, video conferencing and workspace management products solutions and services, and represents some of the top brands in the communication, collaboration, audio visual and workspace technology arenas. The company’s product offering currently includes the likes of Jabra, Poly (merger between Polycom and Plantronics), CTouch, Logitech and Yealink. The Group has existing interests in this sector with its stake in Headset Solutions and the acquisition of Kathea Communication now represents a significant portion of this increasing market.
Kathea Energy is a value-added distributor of alternative energy solutions and represents some of the top brands in the alternative energy sector. Kathea Energy’s brand offering includes Tesla, LG Chem, Huawei, Byd and Schletter, amongst others.
Peter Cowen, CEO of Kathea Communications, remarked: “AYO already has good exposure to the communication and collaboration space with a track record of providing good support to their investments, and so we look forward to combining our highly regarded excellence in this sector with their well-funded strategic ambitions.
“With disruptions to working norms around the globe providing greater emphasis on remote collaboration and effective management of workspaces, Kathea Communication’s offerings have never been more relevant. Global trends combined with SA-specific challenges in power production, set the scene for high growth in the Kathea Energy business and it is for these reasons that both businesses look forward with confidence to complementing the AYO portfolio.”
A six-month exclusivity period has been agreed between the parties to conclude the transactions.