South African listed company Altron Group, has announced its acquisition of cyber security firm Lawtrust, from Etion, for R245 million ($17.2 million), subject to Competition Commission approval.
Lawtrust, is a digital trust services and cyber information security solutions company which provides solutions used to verify the authenticity of digital identities and counterparty systems in transactions, data encryption, digital signatures, as well as biometrics.
Commenting on the acquisition, Altron Group Chief Executive, Mteto Nyati said, “In 2019 we acquired Ubusha Technologies, a leader in identity management. Ubusha formed the foundation of Altron Security. It has proven to be a great acquisition as customers accelerated their digital transformation due to COVID-19. The acquisition of Lawtrust positions Altron Security as a One Stop Shop for all that is digital and information security.”
Lawtrust currently provides services to over 500 customers in the private and public sectors and is considered one of the leading cyber and information security companies in South Africa.
“Security is one of our key growth areas, in addition to Cloud, Data and Automation. What differentiates Lawtrust is the level of intellectual property they own and an annuity base of 70%. These are key characteristics of the Altron 2.0 strategy,” said Nyati.
Lawtrust was the first accredited authentication service provider in South Africa and is an internationally certified Certificate Authority for the provision of publicly trusted digital certificates and digital signatures.