Sahara Holdings has secured a majority shareholding in the Woodlane Consortium, through which it has acquired an interest in Stella Vista, an international supplier of mass visual communication systems, specialising in LED technology.
According to the deal, signed in Johannesburg in mid-February, the Woodlane Consortium has agreed to acquire a 25.1% shareholding in Stella Vista.
The agreement will allow Sahara to deliver to the specialised visual display systems market and simultaneously reinforce Stella Vista's dominant position within international and domestic markets, Sahara said.
Stella Vista, which listed on the Development Capital Market sector of the JSE Limited in 1999, is a key player within international visual display technology markets, including large screen video displays, text and graphics messaging displayers, advertising and scoreboards, among others.
The company will also utilise its association with Sahara to take advantage of growing opportunities within various sectors, including sport, entertainment and transportation.
"We are very pleased to enter into this market venture and partnership with Stella Vista. The obvious synergy between our companies and the ethos on which we all base our activity is such that a merger to capture market share and improve on our technology offering was a natural step and one that we look forward to nurturing," said Atul Gupta, chairman and MD of Sahara Holdings, who has also been invited to join the board of Stella Vista.
The sentiment was echoed by Dr Ali Bacher, chairman of Stella Vista: "This is a very special moment for all of us. The compatibility between our two businesses is based on the fact that they [Sahara] understand our business; these are both family-run businesses that take pride in their work.
"Each has grown from modest beginnings to become established entities locally and internationally, and each is driven by passionate, committed individuals. We are very excited about the potential this venture has in enriching and supporting technology adoption and integration into existing and emerging markets."
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