Johannesburg - South African technology services provider EOH Holdings will acquire stakes of 49 percent to 80 percent in pan-African IT applications and business solutions firm Twenty Third Century Systems (TTCS) and its subsidiaries for an undisclosed amount, it said on Thursday.
The merger of the two businesses fulfils a strategy to provide African technology and knowledge solutions for the continent, both firms said in a statement.
“TTCS will significantly augment our Pan-African growth plans and support EOH’s purpose of providing technology, knowledge, skills and organisational ability, critical to Africa’s development and growth,” EOH Group chief executive Asher Bohbot said.
EOH said in a statement that through its purchase of stakes in TTCS and its units, EOH acquired over 400 diverse, highly-skilled IT experts in finance, logistics, human capital management, analytics, mobility, cloud and database technologies. It also gained a presence in Zimbabwe, Zambia, Malawi, Kenya, Uganda, Rwanda, Botswana and Nigeria with further projects in Ghana, Namibia, Tanzania and Cameroon.
“The joining of these two successful businesses is exciting and provides a perfect platform for our African Growth strategy that will accelerate in the years ahead,” Bohbot said.
EOH is one of the largest technology and knowledge service providers in South Africa.
ANA