EOH buys R300m rail tech firm - TechCentral

EOH buys R300m rail tech firm

EOH CEO Asher Bohbot

EOH CEO Asher Bohbot

Fast-growing listed technology services company EOH has announced it has acquired Mehleketo Resourcing, which employs 350 people and has a turnover of R300m/year. The value of the acquisition has not been disclosed.

Mehleketo provides rail automation and technology solutions. It designs and builds operational nerve centres for the rail industry.

EOH has described the company as the leading South African rail signalling and communications engineering and systems integration firm. It has a number of long-term project and maintenance & support contracts with South African rail operators, it said.

Mehleketo CEO David van der Merwe said the acquisition by EOH will allow the company to grow further in the rest of Africa.

EOH CEO Asher Bohbot said the group’s industrial technology division, of which rail technology is a part, is a “major component” of its growth strategy.

“This division’s services, which are critical for the infrastructure development required in South Africa and in the rest of Africa, include services and solutions in energy, water, connectivity and transport/rail,” said Bohbot.

EOH was last seen trading at R156,28/share, down by 0,2% on the session. In the past 12 months, the counter has added 46%.  — © 2015 NewsCentral Media

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