JSE-listed MICROmega Holdings has bought a controlling interest in SMS-based communication service MIS Consulting for an undisclosed amount.
MIS provides a customer-to-business, and business-to-business enterprise communication service using SMS. MIS will be integrated into MICROmega's connectivity and cloud computing business units.
MIS has, so far, launched its product, Coretalk, through distribution partners in SA, Colombia and Costa Rica.
MICROmega CEO Greg Morris says the company's decision to invest in MIS was motivated by the scalability of the product in its current markets and new regions where the business has received demand for its product.
“What MIS needed was the infrastructure, both financial and technical, to take up these opportunities,” says Morris. He expects MIS to immediately add to earnings.
MICROmega has operating investments in five sectors: automotive, financial services, support services, IT, and property investment, which it launched in 2010. It turned over R682 million and reported profit of R7.8 million in its last full-year results.
MIS's product offering “is unique in that the business provides a fully integrated platform of communication between businesses and their customers,” says Morris.
Morris explains the traditional model of down-stream communication from an enterprise to its customer base, although effective, can often be viewed as cumbersome, limited and, in some instances, downplayed as “spam”.
“Our service offering is industry- and customer-specific, and by using the largest medium of communication available today (SMSing), we are able to allow businesses to professionally receive, manage and respond to customer requirements,” says Morris in a statement to shareholders.
Morris adds the product tracks and allows for the monitoring of consumer trends and consumer behaviour.
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