Dimension Data chairman Andile Ngcaba heads a consortium that has acquired a 41.5% equity stake in Johannesburg-based Inala Technologies, a distributor of test and measurement equipment to telecoms network operators.
The Yottabyte Consortium also includes black entrepreneurs Mongezi India, Zolani Mtshotshisa and former Independent Communications Authority of SA chairman Mandla Langa.
"Subsequent to the transaction, Inala will substantially comply with the targets set out in the draft ICT charter and the Department of Trade and Industry`s codes of good practice," Ngcaba says, adding that the company is now poised to grow beyond Africa and into Asia.
Other shareholders in the company are Investec Bank (7.5%), management (22%), and private equity investors - O2 Capital and the UVV Trust - that hold the balance. Braam de Villiers will remain the company`s CEO.
Ngcaba declined to reveal the value of the deal, but said Inala is a R120 million a year turnover company.
As part of the transaction, the consortium has set aside some of its equity stake for black women, a trust that will benefit HIV and AIDS sufferers in rural areas, and community organisation Natosa.
Inala executive director Marc Balkin comments that the Yottabyte Consortium ideally complements Inala`s business.
"We have found the best partners possible. It`s rare to find historically-disadvantaged individuals who already possess such a good understanding of the hi-tech and highly specialised products that make up Inala`s business," he states.
Inala is also a distributor of hardware broadcasters and is made up of five divisions, specialising in custom telecoms technology development initiatives, distribution of international brands of broadcast, HD/DV and display technology and the distribution of test and measurement equipment.
Ngcaba says the deal also paves the way for Inala to venture further into Africa, from where it already generates 40% of its revenue. Its empowered status is expected to open doors with the South African government for the company, allowing it to compete for long-term State contracts, he adds.
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