Managed services company Faritec has bought Nanoteq`s commercial security division for an undisclosed sum.
Faritec CEO Simon Tomlinson says the deal makes Faritec the largest security service provider in southern Africa.
Nanoteq is a wholly owned subsidiary of JSE-listed Business Connexion, formerly Comparex.
Faritec says the acquisition does not affect Nanoteq`s public sector division, which focuses mainly on ICT security solutions for the government sector.
"Nanoteq`s commercial security division is well established in the South African market and has an impressive client and technology partnership portfolio, together with some of the best security experts in the country," says Gordon Love, Faritec`s head of security services.
"This acquisition strengthens our capability to offer companies a greater degree of security than they could ever do on their own.
"Most companies simply do not have the resources, technology and information to protect themselves against security breaches that are estimated to directly cost the South African economy R1 billion each year."
Nanoteq CEO Nelius Snyman says the sale of the commercial security division marks a return to Nanoteq`s roots.
"Nanoteq is now returning to where it started 16 years ago by focusing on providing the public sector with highly secure, advanced, customised ICT security solutions," he says.
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