The Competition Commission has approved JSE-listed technology group Altron’s acquisition of identity management security specialist Ubusha Technologies.
Altron said on 9 December 2019 that it had made the offer to buy the company pending approval from the competition authorities, which has now been received.
“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 at the time of the announcement.
“This acquisition was the springboard for the creation of a new division, Altron Security, which will allow us to begin to offer solutions in identity management,” said Altron CEO Mteto Nyati in a statement on Wednesday.
“Identity security is increasingly important for individuals and businesses alike, and this unique identity management technology will help our customers manage personal data profiles securely, in line with data privacy compliance and governance laws around the world.”
Altron said security is one of its key growth areas and the acquisition will give impetus to its strategy. Other growth areas include cloud computing, the Internet of things and data analytics.
Ubusha’s customers include Nasdaq, Standard Bank, Investec, Nedbank, Absa, First National Bank, the JSE, Vodacom, Telkom and Massmart. – © 2020 NewsCentral Media