Axiz 'not for sale'

Johannesburg, 15 Apr 2010
Read time 1min 20sec

IT infrastructure distributor Axiz is not for sale and there are no firm offers on the table to buy out the private company.

CEO Anthony Fitzhenry says rumours in the market that the company is being bought out are just that, and there is no formal offer on the table.

The company is owned by staff and management, through an employee shareholder trust, and there is some buying and selling happening at the moment, because staff shares vest every five years, explains Fitzhenry.

However, rumours that it may be bought out are not true, he says. IT Online reports that PostNet parent company OneLogix and Pinnacle Africa were keen to buy out the distributor.

Fitzhenry says the speculation could be the result of management buying out a 30% shareholding that was held by a former director for an undisclosed amount. Staff members are obliged to sell shares in Axiz once they retire or quit, he says.

Axiz is approached on a weekly basis with a buyout offer, and Fitzhenry says the business will take calls from companies looking to purchase the entity. “We are not for sale, but we will talk to anybody.”

The distributor has just over 300 staff and provides hardware, software and its own brand, Axiz. It resells for several major brands, including LG, HP and Samsung.

Related story:
Axiz upbeat about Lenovo partnership

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