Alviva announces two acquisitions - TechCentral

Alviva announces two acquisitions

Alviva Holdings (formerly Pinnacle Holdings) has acquired two companies, one an infrastructure management firm and the other of a developer electric-car charging point software.

The first acquisition is of 51% of Sintrex, with the option to buy a further 24% within the next two years. Sintrex develops IT products and services that provide clients with insight into and monitoring of IT infrastructure.

Sintrex will operate as a standalone entity within Alviva subsidiary DCT, through which the acquisition was done. The deal, which must still be approved by the competition authorities, will enhance group earnings, it said.

The second deal has seen Alviva buy 75% of Gridcars through its renewable energy business Solareff for a “nominal sum”. The acquisition is already unconditional.

Gridcars is a Pretoria-based developer of electric vehicle charge point software management systems and supplier of charge points.

“Alviva believes that growing a network of charge points in South Africa will be the enabler of a carbon-free transport system. The real-time interactive eMobility software system allows users to find available charge points and to manage the rates and billing for energy consumed,” it said.

“The acquisition of Gridcars forms a key element of our renewable energy business strategy.”

Alviva has not disclosed the value of the two deals. — (c) 2017 NewsCentral Media

1 Comment

  1. Some forward thinking from them. The sooner everyone realises electric cars are inevitable the better, and then everyone can start looking at the future and how they can get a piece of the pie.