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Convergence Approved to Acquire Datacentrix
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Convergence Acquisition of Datacentrix: Convergence Partners, a technology-focused private equity investment management company, has acquired 100% system integration service company, Datacentrix.
South African regulators, the Competition Commission and the Independent Communications Authority of South Africa (ICASA), unconditionally approved the transaction.
Convergence Acquisition of Datacentrix
In January, Convergence Partners announced its Convergence Partners Digital Infrastructure Fund (CPDIF) had entered into a definitive agreement with Alviva Holdings to acquire 100% of the systems integrator for an undisclosed amount.
The agreement was subject to the fulfilment of conditions and regulatory approval. According to Datacentrix, all conditions precedent have been met.
The acquisition deal, which includes the existing Datacentrix management team, came after businessman Andile Ngcaba’s Convergence Partners last year successfully closed the CPDIF at $296 million (R5.1 billion), surpassing its initial target by over 18%.
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Ahmed Mahomed, group CEO of Datacentrix, said, “I am thrilled to welcome Convergence Partners to our family and look forward to working with the team to create exceptional business outcomes and pave the way for a sustainable future.”
About Datacentrix
Datacentrix provides services and solutions for public and private sector entities in Africa and the Middle East.
It will continue to be led by the experienced management team that has successfully managed the company for many years, in a listed and unlisted environment.
Datacentrix’s offering embraces advances in technology to deliver business value to its clients, including digital transformation, AI, connectivity and hybrid technology solutions.
Convergence Acquisition of Datacentrix To Lead To Many Opportunities
Convergence Partners chairperson, Andile Ngcaba, said, “We are excited to embark on this journey towards AI with Datacentrix.
We are entering Datacentrix at a time when the market is transitioning towards an AI-driven enterprise, telco and public sector.
With Datacentrix’s strong partnerships with leading global OEMs, we will forge new partnerships as the market consolidates.”
Note that, Datacentrix will continue to be led by its experienced management team, who have successfully guided the company in both listed and unlisted environments.
The team’s dedication and focus on generating value for all stakeholders have been pivotal to the Group’s success.
