JSE-listed technology group Altron is creating a new technology, multimedia and IT (TMT) division to house subsidiaries Altech and Bytes. It will be headed by Altech CEO Craig Venter, with Bytes CEO Rob Abraham reporting to Venter. Previously, Abraham reported to
Browsing: Altron
Altech’s minority shareholders on Friday gave the nod to Altron to buy them out. The move has cleared the way for Altron to terminate Altech’s listing on the stock exchange in Johannesburg. Altron already holds 61% of Altech. It’s the second attempt in six years by Altron, which
Altron subsidiary Bytes Technology Group has landed an IT services contract with banking group Absa worth R400m. Bytes division Bytes Managed Solutions won the deal to provide services to Absa and parent Barclays across the territories in Africa where the financial services giant operates
After 38 years as a publicly traded company, Altech will terminate its listing on the JSE on 20 August, provided it gets the support of shareholders for the move, the technology group, which is controlled by Altron, said on Thursday. Last month, Altron announced that it intended to buy out minority
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
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