JSE-listed telecommunications specialist TeleMasters Holdings has snapped up three companies in the past two weeks in an effort to broaden its scope and enhance shareholder value.
Following an announcement last week that it had acquired a 25% stake in data centre specialist ConexLink, the company has now acquired 100% of networking systems integrator PerfectWorx Consulting and 100% of wholesale voice platform provider Contineo Virtual Communications, pending regulatory approval.
The value of the deals has not been disclosed.
PerfectWorx Consulting, launched in 2007, is a networking systems integrator. “The company is currently stepping up its partnerships and is expected to deliver growth,” TeleMasters said.
Contineo Virtual Communications provides wholesale cloud communications in South Africa, offering unified communications and enterprise-grade collaboration tools that address local market data sovereignty and privacy concerns.
“The company’s wholesale voice platform is enjoying solid growth, and supports a new flagship unified communications offering expected to see strong uptake amid the pivot to remote work,” TeleMasters said about Contineo.
Key role
Contineo and Perfectworx have been suppliers to TeleMasters since 2010 and, in recent years, have played a key role in assisting it to roll out a complete digital solutions offering to its customers.
TeleMasters CEO Jaco Voigt said in a statement that the acquired companies will retain their branding and continue to operate as independent entities.
“TeleMasters is increasing its focus on both shareholder and customer value, so we are growing our portfolio into high-demand sectors,” said Voigt. “In line with a changing local and global market, TeleMasters has evolved beyond its initial focus on voice communications, into a broader ICT, infrastructure, cloud and data centre provider.”
The TeleMasters share price was trading 4.3% higher at 1.30pm on Friday at 73c giving the company a market capitalisation of R30.7-million. — © 2020 NewsCentral Media
