NewsSouth Africa

South Africa: inq.’s acquisition of Syrex gets Competition Commission nod

0
Screenshot 10
Share this article

inq., a Convergence Partner’s company, has received Competition Commission approval without conditions for the acquisition of Syrex, a provider of hyperconverged cloud technology solutions in South Africa.

The strategic acquisition bolsters an already robust business offering from Syrex to the South African market.

This follows the announcement at the end of May this year that inq., an edge computing firm, has reached an agreement to acquire Syrex for an undisclosed amount.

Syrex is a hyperconverged solutions provider that delivers the full ICT services offering, from connectivity to security and tailored IT Managed Services. It holds an ECS/ECNS licence from telecommunications watchdog ICASA.

The company is also a well-established solutions provider with partnerships such as Microsoft (Gold), Mimecast (MSP) and Checkpoint (4 star).

According to the Competition Commission, the proposed transaction is unlikely to result in a substantial prevention or lessening of competition in any relevant markets. It further found that the proposed transaction does not raise any public interest concerns.

David Herselman, Managing Director, Syrex said, “The acquisition will bring two strategically aligned businesses together to deliver their technology and services across the African continent. This will bring a combined offering into the African market to deliver the best technologies available. We are very excited that our cross-border clients will benefit from Syrex’s strong hyperconverged solutions and inq.’s edge solutions and services. The synergy of our people and cultures will create great opportunities into the future.”

With a presence in nine countries, this strategic acquisition will see inq. expand its coverage to the South African market to ultimately facilitate and operate its African divisions and integrate edge computing solutions across the continent.

Edge services are increasingly critical to digital transformation and fundamental to enterprises across the public sector and private sectors (Banking, Financial Services and Insurance (BFSI), Oil and Gas, Mining, FMCG).

Speaking about the acquisition, Andile Ngcaba, Executive Chairman of inq. said: “The combination of Syrex and inq. is geared towards deepening our footprint in South Africa to drive hyperconverged and edge services and solutions within one of the most developed ICT markets on the continent both in the public and the private Sectors. Syrex brings to the fold the right qualities that our clients require.”

Share this article

Global: Steinhoff fined R190 million by Germany’s financial regulator

Previous article

South Africa: Startup Launches Virtual Community Parliament for South Africans

Next article

You may also like

Comments

Comments are closed.

More in News