Altron is keeping mum about the future of subsidiary Altech Autopage Cellular in the wake of news this week that the cellular service provider’s most direct rival, Reunert’s Nashua Mobile, has decided to sell off its customer base and close up shop. All Altron will say when contacted by TechCentral is that the JSE-listed group
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Altech has bought the 50% (less one share) of NuPay that it doesn’t already own in a deal valued at R80m, the technology company owned said on Tuesday. The Altron-owned company bought its initial stake in NuPay in 2009. NuPay forms part of the Card Solutions division of Altech, which is to be integrated with the Bytes
Service provider Nashua Mobile has agreed to sell its MTN and Vodacom subscriber bases to the two mobile operators and is in talks to sell its Cell C subscriber base, too, parent Reunert told shareholders on Monday. Nashua Mobile will receive almost R2,3bn from the sale, before VAT. It appears that the two big mobile
A strong performance by Altron’s newly created TMT division, which includes subsidiaries Bytes and Altech, is expected to underpin a sharp rise in the group’s earnings in the year to 28 February 2014. Altron informed shareholders on Thursday that it expects its headline earnings per share for the full year to be between
JSE-listed Altron, fresh from buying out minority shareholders in subsidiary Altech and delisting it from the stock exchange, has radically overhauled its corporate identity. The move comes after Altron, which was founded in 1965 by telecommunications engineer
Diversified industrial and technology group Altron has reported a 4% improvement in headline earnings per share (HEPS) in the six months ended 31 August 2013, rising from 79c a year ago to 82c in the latest reporting period. This was on the back of an 8% increase in revenue from continuing operations
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
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