Technology group Altech, part of the JSE-listed Altron stable, on Thursday evening announced that it is making a big play into the video-on-demand and home automation markets with a new, satellite-based home entertainment product called the Node that it hopes will become a
Browsing: Craig Venter
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
Altech, a subsidiary of Altron, plans to sell its Liquid Telecom stake, acquired in January 2013, to Econet Wireless, Liquid’s parent company. The 8,6% stake will be sold to Econet for US$55m, giving Liquid an implied value of $640m. Altech says it is exercising this option because the stake
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
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 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
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