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
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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
The next time you call your bank or your telecommunications provider, you may be asked to speak a few words so that software can determine whether you are, in fact, who you claim to be. A new South African technology company, OneVault, is hoping companies adopt remote, voice-based
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 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
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
Research and analysis firm Frost & Sullivan is hosting its second annual Growth Innovation Leadership Event in Cape Town next month. The event attracts executives from some of SA’s and Africa’s biggest technology , mining, and engineering players. The event will take place on 22 August at the Table Bay