Business Connexion (BCX) has boosted its drive into Africa with the acquisition of systems integrator Intrinsic Technology for an undisclosed sum.
Intrinsic Technology, with offices in Angola, Tanzania, Zambia and Namibia, has an annual turnover of more than R150 million. The company also has a strong presence in Mauritius and Mozambique.
"This is a marriage made in heaven," says Shaun Fulbeck, co-MD of Intrinsic. "We have expanded into Africa fairly aggressively over the past half-dozen years and BCX has been looking for an African presence.
"At the same time, our business in SA has been taking a beating because of the lack of an empowerment partner, and BCX is a strong BEE [black economic empowerment] company."
He says Intrinsic, formed in 1988, will be absorbed into BCX`s Africa region and operate under the BCX name. There will be no job losses, with most of the Intrinsic staff being moved into the group`s Africa region. Staff in Cape Town and Durban will form part of BCX`s South African operations.
Fulbeck has been appointed general manager of the African business, reporting to African region CEO Pieter Retief. Co-MD Ed Callen is responsible for sales into Africa.
"When we presented our annual results in August we announced that the group would focus on expanding its presence in Africa and that this may include selective acquisitions," says Business Connexion CEO Peter Watt.
"This is the first step in that direction and we believe it will enable continued growth in the region," he says, adding that the deal increases BCX`s direct presence in the Southern African Development Community region.
Watt says the acquisition will benefit all stakeholders as it will allow the group to continue to grow into Africa and deliver an additional competency in delivering solutions based on HP technologies.
Fulbeck says Intrinsic focused on HP technology, from desktop to back office enterprise servers, with a special focus on the enterprise servers.
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