TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Dark weekend lies ahead thanks to you know who

      20 May 2022

      CSIR develops app to help kids learn to read

      20 May 2022

      Prosus to sell Russia’s Avito

      20 May 2022

      Shock as Mustek CEO David Kan dies

      19 May 2022

      Sabotage at Eskom’s Tutuka plant

      19 May 2022
    • World

      Chip giant ASML places big bets on a tiny future

      20 May 2022

      Musk moves to soothe investor fears over Tesla

      20 May 2022

      Apple is almost ready to show off its mixed-reality headset

      20 May 2022

      TikTok plans big push into gaming

      19 May 2022

      Musk says he will vote Republican, calls ESG a ‘scam’

      19 May 2022
    • In-depth

      Elon Musk is becoming like Henry Ford – and that’s not a good thing

      17 May 2022

      Stablecoins wend wobbly way into the unknown

      17 May 2022

      The standard model of particle physics may be broken

      11 May 2022

      Meet Jared Birchall, Elon Musk’s personal ‘fixer’

      6 May 2022

      Twitter takeover was brash and fast, with Musk calling the shots

      26 April 2022
    • Podcasts

      Dean Broadley on why product design at Yoco is an evolving art

      18 May 2022

      Everything PC S01E02 – ‘AMD: Ryzen from the dead – part 2’

      17 May 2022

      Everything PC S01E01 – ‘AMD: Ryzen from the dead – part 1’

      10 May 2022

      Llew Claasen on how exchange controls are harming SA tech start-ups

      2 May 2022

      The inside scoop on OVEX’s big expansion plans

      20 April 2022
    • Opinion

      A proposed solution to crypto’s stablecoin problem

      19 May 2022

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022

      Cash is still king … but not for much longer

      31 March 2022

      Icasa on the role of TV white spaces and dynamic spectrum access

      31 March 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Tarsus on Demand
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»Sections»Investment»Metrofile to buy IronTree for up to R140-million

    Metrofile to buy IronTree for up to R140-million

    Investment By Staff Reporter21 October 2021
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    JSE-listed document management specialist Metrofile said on Thursday that it has agreed to buy 70% IronTree Internet Services from the founding shareholders, with the remaining tranche to be bought in 2024.

    The total consideration for 100% of the company will be between R80-million and R140-million, Metrofile said in a statement to shareholders.

    IronTree provides data management services including cloud backup, disaster recovery and specialised server hosting in a private cloud. It also offers cybercrime and ransomware prevention, privacy law compliance management and business continuity planning services.

    IronTree will strengthen Metrofile’s core capabilities in virtual storage and digital risk management

    “This acquisition complements Metrofile’s strategic pillar of accelerating its position into the provision of information management and digital services. It will benefit Metrofile’s clients who are increasingly managing their information digitally and will provide them with digital backup and hosting services that support their businesses,” Metrofile said.

    “IronTree will strengthen Metrofile’s core capabilities in virtual storage and digital risk management. IronTree will also provide access to products in high-growth segments such as cybersecurity and digital compliance.”

    The sellers have agreed a restraint of trade for a period of five years from the effective date of the second payment in 2024.

    In the year ended 28 February 2021, IronTree reported revenue of R45.3-million, profit after tax of R6.7-million and net assets of R4.3-million. – © 2021 NewsCentral Media

    IronTree IronTree Internet Services Metrofile
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleMTN blocks Facebook in Eswatini on government order
    Next Article Mark Zuckerberg needs to change more than Facebook’s name

    Related Posts

    Dark weekend lies ahead thanks to you know who

    20 May 2022

    CSIR develops app to help kids learn to read

    20 May 2022

    Fast-rising fintech Bankingly closes $11m investment round

    20 May 2022
    Add A Comment

    Comments are closed.

    Promoted

    Fast-rising fintech Bankingly closes $11m investment round

    20 May 2022

    Creating an effective employer value proposition for the new era of work

    20 May 2022

    Why fibre is the new utility – and what it means for South Africa

    19 May 2022
    Opinion

    A proposed solution to crypto’s stablecoin problem

    19 May 2022

    From spectrum to roads, why fixing SA’s problems is an uphill battle

    19 April 2022

    How AI is being deployed in the fight against cybercriminals

    8 April 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.