Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      War of words erupts over home affairs database fee hike

      24 June 2025

      Don’t expect Starlink in South Africa anytime soon

      24 June 2025

      Finally! Tribunal unpacks why it blocked Vodacom’s Vumatel deal

      24 June 2025

      Samsung to unveil new folding phones at July event

      24 June 2025

      Capital Appreciation banks on payments to offset software slump

      24 June 2025
    • World

      Mira Murati’s Thinking Machines hits $10-billion valuation

      24 June 2025

      Watch | Starship rocket explodes in setback to Musk’s Mars mission

      19 June 2025

      Trump Mobile dials into politics, profit and patriarchy

      17 June 2025

      Samsung plots health data hub to link users and doctors in real time

      17 June 2025

      Beijing’s chip champions blacklisted by Taiwan

      16 June 2025
    • In-depth

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025

      Digital fortress: We go inside JB5, Teraco’s giant new AI-ready data centre

      30 May 2025

      Sam Altman and Jony Ive’s big bet to out-Apple Apple

      22 May 2025
    • TCS

      TechCentral Nexus S0E3: Behind Takealot’s revenue surge

      23 June 2025

      TCS | South Africa’s Sociable wants to make social media social again

      23 June 2025

      TCS+ | AfriGIS’s Helen Hulett on how tech can help resolve South Africa’s water crisis

      18 June 2025

      TechCentral Nexus S0E2: South Africa’s digital battlefield

      16 June 2025

      TechCentral Nexus S0E1: Starlink, BEE and a new leader at Vodacom

      8 June 2025
    • Opinion

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025

      South Africa risks being left behind as stablecoins reshape global finance

      6 June 2025

      Beyond the box: why IT distribution depends on real partnerships

      2 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » News » Altron looking for buyers for UEC

    Altron looking for buyers for UEC

    By Duncan McLeod15 April 2016
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp
    Altron has begun looking for buyers for set-top box manufacturer UEC
    Altron has begun looking for buyers for set-top box manufacturer UEC

    Altron is actively pursuing a partial or full sale of its set-top box manufacturing business, Altech UEC, TechCentral has established reliably from two well-placed sources.

    The group, which is disposing of noncore assets in a restructuring process that will see it focus on its core technology businesses, is using the asset sales to reduce the level of debt on its balance sheet.

    TechCentral has learnt that Altron has begun shopping UEC, which has performed poorly in recent years, to parties that might be interested in buying it, or at least taking an equity stake in the company.

    Altron CEO Robbie Venter told TechCentral on Friday that it would be “premature” to comment. “As soon as we have anything of relevance, we will make an announcement on Sens (the stock exchange news service),” he said.

    Venter said Altron has previously communicated plans to dispose of its manufacturing assets and UEC, he said, falls into the manufacturing category. “We are exploring options there, but no final decision has been taken.”

    He said the group has had discussions about potential partnerships and is also keen to explore ways of improving UEC’s empowerment profile. “But it is premature to make any statement,” he added.

    The news of the UEC discussions comes just days after Altron announced it had reached agreement to sell subsidiary Powertech’s 75% equity stake in Aberdare Cables to China’s Hengton Optic – Electric International.

    Hengton is a large power and fibre-optic cable manufacturer listed on the Shanghai Stock Exchange.

    Powertech will sell its 75% holding in Aberdare Cables, while Aberdare International will dispose of 100% of its shareholding in Aberdare Europe to Hengtong, Altron said.

    In a statement, Altron said the price payable by Hengtong for the assets will be based on an equity value of R1bn in respect of Aberdare Group. In addition, Hengtong will take on Aberdare Group debt of R232m.

    In February, meanwhile, Altron completed the sale of the subscriber bases belonging to Altech Autopage to MTN, Vodacom and Cell C. That deal raised in the region of R1,5bn.

    In the six months to 31 August 2015 — Altron’s most recently published results — Altech Multimedia Group, which houses UEC, reported a loss before interest, tax, depreciation and amortisation of R158m on revenue of R418m. Year on year, revenue at Altech Multimedia plunged by 65%.

    Altech’s UEC revenue can be highly volatile given its reliance on a relatively small number of high-value contracts, mainly from broadcasters.

    Altron’s share price closed on Thursday at R5,25/share. The counter has lost 65% of its value in the past 12 months.  — © 2016 NewsCentral Media



    Aberdare Cables Aberdare Group Altech Multimedia Altech UEC Altron Hengtong UEC
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleIS restructures in big SME push
    Next Article Guptas are amateurs: political analyst

    Related Posts

    Let’s reimagine Joburg using the power of tech, data and AI

    23 June 2025

    Netstar doubles down on global markets while backing SA growth

    23 June 2025

    Altron: a brand journey, a birthday celebration and a bet on Joburg’s future

    17 June 2025
    Company News

    Africa’s power industry bolsters digitalisation with Huawei

    25 June 2025

    Communication costs exploding? Telviva has a fix for UK-SA teams

    24 June 2025

    Section 18A deductions and BEE points – a strategic choice for business compliance in 2025

    24 June 2025
    Opinion

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    AI and the future of ICT distribution

    16 June 2025

    Singapore soared – why can’t we? Lessons South Africa refuses to learn

    13 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.