The transaction that results in the Continuity Investment Trust and CoroCapital buying out the 51% interest in ContinuitySA from the Dialogue Group became effective as of 1 February 2011.
Africa's largest business continuity service provider, ContinuitySA, now has CoroCapital holding 49% of its shares, with the Continuity Investment Trust, represented by the management and staff of ContinuitySA, increasing its holding to 51% of the company.
Allen Smith, CEO of ContinuitySA, says: “Together with a well-funded equity partner, our solid financial standing puts us in a good position to grow the company both organically and through acquisitions over the coming years.”
ContinuitySA is positioning itself as an innovative provider of next-generation business continuity services largely on the back of the availability of affordable bandwidth. Already most bandwidth suppliers have connected ContinuitySA sites to their networks. ContinuitySA has shared and agreed its vision of the future with CoroCapital and the partnership will play an important role in the company's future.
CoroCapital, a subsidiary of Coronation Investment and Trading, is an investment banking specialist focusing on quality unlisted and listed equity opportunities.
“We are delighted to combine CoroCapital's financial acumen with ContinuitySA's proven track record in providing its blue-chip clients with a total business continuity solution,” says Peter Vogel, executive director of CoroCapital.
“Given that South African corporations are investing more effort and time into the areas of risk management, business continuity, crisis planning and the provision of business recovery facilities, it is our view that ContinuitySA is well positioned to continue its growth path in offering these critical services.”
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ContinuitySA
ContinuitySA is Africa's leading provider of business continuity consulting and related services. The company boasts some of the continent's most highly skilled and qualified business continuity and disaster management experts who help companies, organisations and government departments of all sizes prepare for and deal with all eventualities. These include potential threats, events, incidences and unforeseen or sudden disruptions due to human error or natural events.
ContinuitySA operates the largest recovery facilities in southern Africa. It has a number of recovery centres in South Africa with over 20 000 square metres of recovery facilities in Midrand, Gauteng. A smaller site of 3 000 square metres is located in Cape Town. The company has already established a 1 500 square metre site in Gaborone, Botswana, and is in the process of further expanding business into Africa through Mauritius and Mozambique and also in the Middle East.
ContinuitySA. Our business is keeping you in business.
Additional information about ContinuitySA can be found at http://www.continuitysa.com.
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