Abnoba, a black-empowered digital process automation company, has acquired 30% of Galdon Data and is hoping to end up with more than 50% in the coming years.
Abnoba CEO Fairoz Jaffer says although Abnoba is 100% black owned and engendered, the acquisition is not based on colour.
"It is all based on meaningful business," he says. "We have been working with Galdon as partners. We are strong in the consulting space and in working with customers to find solutions, but we don`t have an implementation and services arm, so we were outsourcing that to Galdon."
He says Abnoba now shares in long-term income rather than growing another company.
Galdon Data MD Garry Ackerman says the deal is a win for both companies. "Abnoba will focus on the consultative sell, specifying digital process automation solutions across enterprises with the assurance that it now has the service, support and deployment capacity behind it. What`s more, our existing business partners and clients can look forward to an enhanced competency and skill set."
Jaffer says while Abnoba uses some US products, but as components rather than as an off-the-shelf solution, his company has also developed its own solutions.
He says the advantages of the South African component include the fact that it supports local trends, is not affected by currency fluctuations, and facilitates quick modification of code.
The companies say that demand for digital process automation solutions is growing exponentially, as automation of data and document capture and business information delivery offers a rapid return on investment that creates a strategic competitive advantage.
Jaffer says Abnoba has targeted a stake of more than 50% in Galdon Data, but it will "take one step at a time" and review its plan after February 2005, after which it may initiate negotiations.
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