Striata signs BEE deal with J&J Group

Strategic investment and management company, J&J Group, has purchased a 25.1% share of electronic communication specialist, Striata South Africa.

Chris Jardine, COO at J&J Group, was upbeat about the quality of the investment. "Striata is a leading provider of software and services in the electronic communications arena, with widespread success in electronic billing. We foresee enormous growth from this sector and Striata is exactly the calibre of partner we want to invest in."

Striata's software platform is the enabler of electronic communication for many of SA's blue chip companies. Focused on financial services, telecommunications, utilities, government and retail, Striata's solutions are applicable to any organisation that views efficient communication with customers as a vital component of their success.

"After a thorough investigation from both parties, we are confident that J&J Group by far offers the strongest management and strategic opportunities that we found in potential empowerment partners. Our involvement with the J&J Group is a major step in our commitment to the black empowerment process, and will springboard our growth in the local market," says Michael Wright, CEO of Striata.

With interests in financial services, information technology, industrials and property, J&J Group plans to leverage the synergies between group companies and its newest investment.

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Confident about group synergies, Jardine added: "There are many opportunities to package the offerings of the companies in the group, and we are already working on joint business prospects with the likes of Faritec."

Jay Naidoo, Chairman of the J&J Group, concluded: "We are very impressed with the growth of Striata, the acceptance of their technology and the vision displayed by their management. We have high expectations of this business into the future."