EOH is set to buy a stake of between 49% and 80% of Twenty Third Century Systems (TTCS) and its subsidiaries, for an undisclosed amount.
Twenty Third Century Systems (TTCS) is a pan-African IT applications and business solutions provider. It was founded in 1996 by Ellman Chanakira and focuses on implementing business solutions and IT infrastructure across Africa and the Middle East, says EOH.
In a statement, the listed company explains TTCS operates in both the private and public sectors, providing services to entities involved in social security, tax and revenue collecting. It has implemented solutions in a number of large mining and manufacturing enterprises, and has developed proprietary solutions for key government departments and agencies, says EOH.
"TTCS will significantly augment our pan-African growth plans and support EOH's purpose of providing technology, knowledge, skills and organisational ability, critical to Africa's development and growth," says EOH CEO Asher Bohbot.
EOH has been slowly moving into Africa and now has operations in 29 African countries and in the UK. It ignored Africa as an area of growth until three years ago as it did not want to "dilute" its attention from local operations, Bohbot has explained.
The listed company's foray into Africa will accelerate through the increase of its in-country presence, partnerships, joint ventures and acquisitions.
Its purchase of a stake in TTCS, which will vary from country to country, will add more than 400 diverse IT skills in finance, logistics, human capital management, analytics, mobility, cloud and database technologies to EOH. The listed company has 9 000 staff members.
TTCS has a presence across the African continent, with offices in Zimbabwe, Zambia, Malawi, Kenya, Uganda, Rwanda, Botswana and Nigeria, and projects in several other countries including Ghana, Namibia, Tanzania and Cameroon.
"EOH is a natural home for TTCS," says CEO Chanakira.
EOH and TTCS will jointly take their intellectual property and business solutions into Africa and provide proven African-developed solutions for the continent. "The joining of these two successful businesses is exciting and provides a perfect platform for our African growth strategy that will accelerate in the years ahead," adds Bohbot.
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