Following its interest in acquiring Datacentrix, a hybrid IT systems integrator, Convergence Partners, a leading private equity investment manager focused on the technology sector in sub-Saharan Africa, has secured regulatory approvals with the acquisition.
Both the Independent Communications Authority of South Africa (ICASA), and the Competition Commission have thrown their weight behind the acquisition.
In a statement, Convergence Partners confirmed
“The agreement was subject to the fulfillment of conditions and regulatory approval. Datacentrix is pleased to announce that all conditions precedent have been met. The Competition Commission and Independent Communications Authority of South Africa have unconditionally approved the transaction.”
Despite the acquisition, operational continuity and leadership remain unchanged at Datacentrix.
“Datacentrix will continue to be led by the experienced management team that has successfully managed the company for many years, both in a listed and unlisted environment. The success of the Group is a testament to a management team and employees who are passionate, committed, and focused on generating value for all its stakeholders,” the company assured.
Ahmed Mahomed, Group CEO of Datacentrix, expressed optimism about the partnership with Convergence Partners and its leadership. “We are heartened by the engagement to date with Andile Ngcaba (pictured below) and the rest of the Convergence Partners team, Stefan Ferreira, and Ruveshan Moodliyar and we look forward to leveraging this new partnership for the benefit of all stakeholders.”
Although details such as the acquisition timeline and financial terms have not been disclosed, Convergence Partners is enthusiastic about integrating Datacentrix into its expanding ICT portfolio. “We are delighted to be part of Datacentrix, one of the leading system integrators in South Africa. We are excited to embark on this journey towards artificial intelligence with Datacentrix. We are entering Datacentrix at a time when the market is transitioning towards an AI-driven enterprise, telco, and public sector,” said Andile Ngcaba, Chairman of Convergence Partners.
Convergence Partners has invested in several digital infrastructure companies operating in Africa, such as Dimension Data, CSquared, FibreCo, Intelsat, Comsol, Seacom, inq, Rack Centre, Vodacom, and Vuma, among others.
