TeleMasters expands portfolio with two new acquisitions
Less than a week after it announced the acquisition of a stake in data centre specialist ConexLink, JSE-listed communications service provider TeleMasters today made two more acquisitions.
The company has acquired a 100% shareholding in two local ICT companies, broadening its scope and enhancing shareholder value.
Following the announcement on Thursday last week that TeleMasters had acquired a 25% stake in ConexLink, it has now acquired 100% of specialist networking systems integrator PerfectWorx Consulting, and specialist wholesale voice platform provider Contineo Virtual Communications pending regulatory approval.
The company did not disclose how much it paid for all the transactions.
In a statement, TeleMasters says PerfectWorx Consulting, launched in 2007, is a networking systems integrator specialising in next-generation IP technologies.
The company is currently stepping up its partnerships and is expected to deliver growth, it notes.
Contineo Virtual Communications is a provider of wholesale cloud communications in SA, offering complete unified communications and enterprise-grade collaboration tools that address local market data sovereignty and privacy concerns, says TeleMasters.
It points out that the company’s wholesale voice platform is enjoying solid growth, and supports a new flagship unified communications offering expected to see strong uptake amid the pivot to remote work.
Contineo and Perfectworx have been suppliers to TeleMasters since 2010, and in recent years, they have played a key role in assisting TeleMasters to roll out its complete digital solutions offering to its customers.
TeleMasters CEO Jaco Voigt says the acquired companies will retain their branding and continue to operate as independent entities.
The TeleMasters Group structure now consists of the following operational entities: Catalytic Connections, Contineo Virtual Communications, PerfectWorx Consulting and ConexLink.
The integration of the new businesses into the TeleMasters group delivers new opportunities to offer expanded and integrated solutions, and allows TeleMasters shareholders to benefit from a wider portfolio, Voigt says.
“TeleMasters is increasing its focus on both shareholder and customer value, so we are growing our portfolio into high-demand sectors,” says Voigt.
“In line with a changing local and global market, TeleMasters has evolved beyond its initial focus on voice communications, into a broader ICT, infrastructure, cloud and data centre provider.
“Technology has evolved and converged, and no business can afford to be a one-dimensional service provider. We have a renewed and active strategy to grow our portfolio to enable multi-dimensional communications and ICT services and solutions.
“The TeleMasters board is of the opinion that the acquisition of these key suppliers will secure the company’s ability to continue to provide a unified and competitive product offering to its customers,” he says.