Johannesburg - Local specialist ICT services company, ATIO, announced today that it has concluded a share buyback from Ethos Private Equity's Technology Fund I of its entire shareholding in ATIO.
“Ethos invested in ATIO in April 2006 and has played an integral role in getting ATIO to where we are today,” said Chris Van der Sande, CEO of ATIO. “Due to the capital ATIO received from the sale of our Interactive Intelligence customer base to Interactive Intelligence SA, ATIO was able to initiate the share buyback from Ethos. Ethos has been a fantastic shareholder for us. Together, we were able to develop ATIO to new heights. Personally, I have learnt a tremendous amount from working with the Ethos team, especially Stuart MacKenzie, who has been involved and has served on our board from the start.
“ATIO is a great technology company with a visionary management team. Ethos is proud of the role we have played in building ATIO's portfolio of businesses over the six-year partnership we've shared with the company. The transaction will result in ATIO becoming a black-owned company, with management's participation in the equity of the company increasing significantly. We wish them sustained success,” remarked Ethos partner Stuart MacKenzie.
As a consequence of the buyback of shares from Ethos, ATIO's empowerment shareholder, Thuthukani, will now have a majority share in ATIO. This means ATIO has become a black-owned company. “We have some exciting plans up our sleeves and are excited about the future of ATIO,” Van der Sande concluded.
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ATIO
ATIO is a Level 3, value-adding supplier, black-empowered company that has been providing specialised ICT services for over two decades. ATIO has three divisions each focusing on a clearly defined niche market. Its interactive division provides integrated communication services such as contact centres, converged networking, unified communications, mobility and IP telephony. It also offers IT services focused on system integration, managed services and professional services. Its telecoms division provides vendor independent performance management services focused on wireless network optimisation, and performance benchmarking for 2G, 3G and 4G technology standards. It also provides converged IP assurance and IP performance testing. Its netcampus division provides collaborative learning solutions. It is a fully accredited online provider of innovative technical training products and services from major international courseware vendors, empowering students to enter the IT industry with world-class certifications.
Ethos
Ethos Private Equity is a control and growth investor. It takes an active ownership role in its portfolio companies and generates value by partnering management teams to improve strategic, operational and leadership capacity. By focusing on such strategies, it consistently produces superior returns for investors. This reputation for value-creation has made Ethos the partner of choice for successful management teams exploring corporate change and growth. Its core premise is: The businesses into which Ethos invests are stronger, more robust, more sustainable and more valuable on exit than they were prior to Ethos' ownership. With a record of over 25 years of private equity investing, Ethos represents a unique combination of skill, innovation and stability. This heritage includes 101 acquisitions: 86 have been successfully realised.
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