Altron IT subsidiary Bytes Technology Group has acquired identity management company Brand New Technologies (BNTech). The purchase consideration, which has not been disclosed, is dependent on the attainment of certain profit targets over a period of three years. BNTech specialises in securing
Browsing: Altron
Altron’s offer to buy out minority shareholders in subsidiary Altech and delist the technology and telecommunications company from the JSE is fair, analysts says. Last Friday, Altron made the offer, its second in six years. Both Altech and Altron are listed entities. The move sent
Altron has made an offer to buy out the minority shareholders in its subsidiary Altech, the two JSE-listed companies announced on Friday. The move sent Altech’s share price soaring by more than 30% on Friday afternoon, shortly after news of the offer was published. The move had been widely expected
The performance of IT services group Bytes was the only bright spot in an otherwise poor set of annual financial results from JSE-listed conglomerate Altron, whose numbers were dragged down by subsidiaries Altech and Powertech. Group headline earnings per
Altron and its subsidiary Altech are still engaged in talks, the outcome of which could have a material effect on the share prices of the two JSE-listed groups. Though neither has said what the discussions are about, it’s widely speculated that Altron is preparing to make an offer to minority shareholders in Altech
Craig Venter, the CEO of JSE-listed technology group Altech, which recently reported an operating loss of R1,2bn in the year to February 2013, has elected to forgo his bonus for the 2012/2013 financial year. The losses come on the back of poor performances
Altech will not give up on the idea of pursuing international acquisitions, despite the financial disaster it that has unfolded for it in East and West Africa in recent years. However, the JSE-listed technology group will take a breather before pursuing new deals, says CEO
Altron and subsidiary Altech both cautioned their shareholders within moments of one another on Friday that they were in talks that could have an impact on the share prices of the two companies. The move has ignited speculation that Altron could have another go at delisting Altech, which
Despite good revenue growth of 11% in the six months ended 31 August 2012, JSE-listed Altron’s profits have been pummelled due to margin pressure and writedowns at subsidiary Altech. For the period, Altron reported operating profit before capital items of R586m, from R627m previously. However, the problems at Altech
JSE-listed technology group Altech has again been hit by poor performance at its East and West Africa operations, and has warned that as a result of impairments in these businesses it expects headline and adjusted headline earnings per share for the six months ended 31 August 2012 to be between 18% and 25% lower than a year