JSE-listed technology group Altron said on Monday that it had acquired Ubusha Technologies, an identity management security company, for R360-million.
The deal is effective 1 March 2020, pending Competition Commission approval, it said.
“Founded in 2003, Ubusha — as a next-generation IT security services provider — enables dynamic authentication and authorisation, identity management and governance, and privileged account security for leading local and international banking, financial services, insurance, telecommunications and retail customers,” Altron said in a statement.
The deal will enhance Altron’s “capability in security, one of our growth areas, others being cloud, the Internet of things and data analytics,” said Altron CEO Mteto Nyati.
“With the identity security offering, we will enable customers to securely manage the identity profile of their clients across devices, platforms and locations.”
Ubusha combines software from global industry players with its core intellectual property, and professional and managed services, to provide identity-based security solutions.
Once integrated into Altron, Ubusha will merge with the company’s existing Cybertech business to form a standalone operating company called Altron Security Solutions.
Ubusha has 70 employees and key customers include Standard Bank, Investec, Nasdaq, Nedbank, Absa, First National Bank, the JSE, Vodacom, Telkom and Massmart. — (c) 2019 NewsCentral Media