Altron sells Botswana, Moz units to Zim’s Tano Digital
JSE-listed tech group Altron has sold its businesses in Botswana and Mozambique to Zimbabwe’s Tano Digital Solutions. Alton says the sale follows a strategic decision by the Altron board in June 2021 to divest from the rest of Africa markets through the disposal of its entire shareholding in operating countries.
“JSE-listed technology company Altron confirms the sale of Altron Botswana and Altron Mozambique to Tano Digital Solutions (TDS). TDS is a digital services company for public and private sector enterprises in the business automation sector within Southern Africa,” says Altron in a statement.
“Altron will retain a presence in Botswana and Mozambique by delivering its solutions in these territories through a partnership operating model”. The sale of Botswana and Mozambique units by Altron comes a few months after the disposal of its ATM Hardware and Support Business to US software, consulting and technology company NCR Corporation.
In October, Altron and NCR penned a sale of business agreement in a deal, whose final amount is yet to be determined, but has been capped at around R183 million ($10 million). The deal’s completion is subject to regulatory approvals.
At the time, Altron Group chief executive Werner Kapp said the sale aligned with Altron’s 2.0 strategy of maintaining its market leadership in low capital intensity businesses. Altron 2.0 strategy seeks to triple operating income for the company, among other metrics, by disposing capital-heavy and loss-making businesses and acquiring assets in high-growth segments of the market.
Other metrics targeted by the Altron 2.0 strategy are high annuity revenue and a net debt to EBITDA ratio of less than one. itweb.co.za