EOH acquisition of 100% of Sybrin
Today, EOH announced the acquisition of 100% of Sybrin for an undisclosed sum. Sybrin is a specialised developer of software for the financial services and other industry sectors. Some of Sybrin's products include workflow software, payment, imaging and document management solutions.
Sybrin employs over 150 people and has completed over 400 product implementations across four industry verticals, with a core focus on financial services.
Sybrin is headquartered in South Africa and has regional offices in Kenya, Zimbabwe, Zambia, Tanzania, Rwanda and Mozambique, and works across 17 African countries, Europe and the Middle East. Sybrin has been in business for over 20 years.
Asher Bohbot, CEO of EOH, stated: "EOH is delighted that Sybrin has joined the EOH family. We were attracted to Sybrin because of its strong management team, solution set and African presence. Sybrin is a great fit into our existing strategy, which includes stronger vertical focus and aggressive African expansion."
Steve Prowse, CEO of Sybrin, says: "We are joining EOH because of its culture and entrepreneurial spirit. We wanted a partner that could bring our company to the next level, and we are very excited to be part of EOH. We at Sybrin believe that in the EOH stable, we can become a much greater force in our chosen markets. We already work with EOH at many of our clients, and are very excited with the huge opportunities that exist into the future."
Brian Gubbins, EOH Business Development Director, is clear of the value that Sybrin adds to EOH's existing solution sets. "Sybrin's core financial services capabilities and workflow management solutions add great value and enhance our current offerings to our existing client base. EOH can also add great value to Sybrin clients who we do not currently partner with. While Sybrin's focus has been predominately in the financial services sector, we see great potential for their solutions across all industry verticals."
"Sybrin already partners with many of our existing technology partners, and in turn, will add to strengthening these relationships and our combined value propositions going forward," adds Bohbot.