Introstat (Pty) Ltd and BEE consortium Mapulaneng, led by Synthesis Informatics Holdings CEO Harold Mogoru Vermaak, seal an agreement that will see the synthesis and cross-pollination of ideas that will enable and empower both parties.
The deal will see Mapulaneng take a 26% equity stake in Introstat. The underlying rationale was an unlocking of value for Introstat shareholders at market value and the entrance of a strategic partner, who is and has a fundamental understanding of black economic empowerment.
"After a long and exhaustive search, we have found partners that share the same business philosophy that has been the hallmark of the company`s previous success. It is great to have them on board and we are now ideally positioned to take the business to the next level," says Wayne Behrmann, Managing Director of the Introstat Group.
"The deal was strategic," says self-styled entrepreneur Vermaak, who admits paying fair value for the stake. "However," he retorts, "we will sweat the investment", meaning that Synthesis Informatics will use Introstat`s solutions and resources to bolster its solution offerings to local and national government and utilities while leveraging the existing relationships within large corporates.
Introstat is a leading printing solutions company in SA. Its core business consists of the sale of printer consumables and hardware and the supply of pre-and post-sale technical solutions for printers and multifunctional printing products. Established for over 15 years, Introstat has a national infrastructure employing in excess of 200 people with a client base in excess of 3 000 companies. Introstat is a key business partner of Hewlett-Packard, Lexmark, Canon, Epson, Xerox and Verbatim.
Mapulaneng consortium is a broad-based black economic investment formed to capitalise on the various procurement regulations and guidelines that have been issued by government, with Synthesis Informatics Holdings being the major shareholder within the consortium.
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A black owned and controlled operations and investment group, specialising in the ICT space using public private partnership initiatives to cement its already well established relationships with trade unions, government, utilities, corporates and NGOs.
Synthesis Informatics has experience in operations and management of client and vendor relationships. The group has been in existence for five years and was founded by a group of like-minded businessmen who saw a gap in the market for delivering upon one`s promises.
Synthesis prides itself upon a focused work ethic that is pervasive throughout its management and staff, it has relationships with such global leaders as Nortel Networks, T Systems, and supplies and partners with some of the largest corporates and trade unions in SA - Absa, arivia.kom, CSIR, NUM and Nehawu to name a few. It is helping to establish NAFCOC through a registration drive and has many social and community-based projects at grass roots in play.