A black economic empowerment consortium has acquired a 35% stake in MB Technologies company Storage Technology Services (StorTech) for an undisclosed sum.
MB Technologies became a privately owned company after delisting from the JSE last year.
Data storage solutions and services supplier StorTech has been appointed by Storage Technology Corp (StorageTek) as a value-add distributor in SA, which StorTech CEO Peter Blaauw says has been used to accelerate his company`s empowerment transformation programme.
He says StorageTek has welcomed the empowerment investment by the consortium, which comprises Mvelaphanda Strategic Investments and Sifikile Investment Holdings.
"StorTech, with the support of StorageTek, is focused on one of the highest-growth sectors of the IT industry," says Sifikile CEO Dumisani Khoza.
He says the consortium will participate in the control and management of StorTech and add further value to its business development objectives and transformation programme.
Blaauw says StorTech has been restructured in partnership with the consortium at an operational level, creating a single, integrated data storage solutions and data management services organisation.
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