SMS software company Beget Holdings has bought the assets of Namibia`s Ianitor and the intellectual property of British Virgin Islands-registered Hopefield Enterprises Corporation for R8 million.
JSE-listed Beget recently set up a joint venture in the Seychelles with Ianitor as partner.
Beget has also announced that its direct advertising and marketing product, which uses SMS technology as a channel, is operational in the UK under a country licensing agreement.
Beget says the assets it has acquired are middleware software geared towards GSM and telecommunications, as well as SS7 skills on a developer level. SS7, or signalling system 7, is a multi-layered communications protocol.
"The employees have extensive implementation experience on various switches and different network configurations with the capability to develop any new telecommunication products due to their extensive SS7 knowledge which forms the backbone of telecommunications globally."
It says the products and technology will substantially enhance its drive to distribute its products and services globally.
Of the purchase price, R320 000 has been paid in cash while R3 million was paid through the issue of about 16.67 million Beget shares at 18c each. Another R1.68 million is to be paid in cash or shares on 30 April and R3 million is to be paid on or before 30 April next year, also in cash or shares.
Beget`s SMSmalls software product, which allows advertisers to send targeted messages to cellphone owners who have given permission, is now operational in the UK under a country licensing agreement.
The UK subsidiary operates as a mirror company to the South African parent based on a network of franchisees which markets the product to business.
Beget owns 50% of the UK company, which is based in Woking, Surrey. The group says several other country licence agreements are close to conclusion.
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