Business

Atio wraps up share buyback

Read time 1min 20sec

ICT services provider Atio has bought back the shareholding that was held by Ethos Private Equity's Technology Fund One for an undisclosed amount.

The company says it was able to buy back the holding because it sold its Interactive Intelligence customer base to Interactive Intelligence SA for R54 million earlier this year.

Atio CEO Chris van der Sande explains: “Ethos invested in Atio in April 2006 and has played an integral role in getting Atio to where we are today.”

Ethos Private Equity is a control and growth investor that has been investing in companies for 25 years. It has done more than 101 acquisitions, of which 86 have been successfully realised.

After the deal, Atio's empowerment shareholder Thuthukani will have a majority share in the company, which is now black-owned. “We have some exciting plans up our sleeves and are excited about the future of Atio,” says Van der Sande.

“Atio is a great technology company with a visionary management team. Ethos is proud of the role we have played in building Atio's portfolio of businesses over the six-year partnership we've shared with the company,” says Ethos partner Stuart MacKenzie.

The company provides integrated communication services such as contact centres, converged networking, unified communications, mobility and IP telephony, as well as services focused on system integration, managed services and professional services.

Its telecoms division provides performance management services focused on wireless network optimisation, and performance benchmarking for 2G, 3G and 4G technology standards.

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