Mustek seals acquisition deal with Sizwe Africa IT
11 October, 2024
Mustek, a South African IT company, has taken a one-million-dollar step as it acquires a 70% stake in CyberAntix, a security operations centre-as-a-service provider, from Sizwe Africa IT. In a deal worth R20 million ($1.1 million) deal, both companies oversaw an R8 million ($457,820) transfer of shares and a R12 million ($686,730) shareholder loan.
Sizwe Africa IT, owned indirectly by Ayo Technologies through Zaloserve, sanctioned the sale as part of a shift in its strategic priorities. NIL Data Africa, another multinational giant among IT service providers will continue to hold the remaining 30% of stakes in the company.
Ayo Technologies, which holds a 55% stake in Sizwe, stated that while CyberAntix holds growth potential, its development would require additional investments over the long term. The company believes that the sale will allow Sizwe to reallocate resources to focus on other vital business areas, as it seeks new partnerships in Cybersecurity by the end of 2024.
On the other end of the acquisition, Mustek sees the acquisition as an opportunity to expand its newly formed cloud, software, and security services divisions. It hopes to upgrade its market offerings from hardware towards services. Integrating CyberAntix’s services will enhance Mustek’s ability to provide tailored security solutions to organisations across Africa.
Nicole Orr, Mustek’s Chief Marketing Officer, emphasized that the acquisition aligns with the company’s focus on expanding its newly formed cloud and software division, while also enhancing its security services business.
Orr noted, “It was really a no-brainer in terms of expanding Mustek’s product portfolio, specifically on the software and security side of the business.”
“We have cloud software and security as part of our product offering, so this [acquisition] gives a value-add to our customer base. It helps us differentiate ourselves and evolve, like most traditional distributors. We are spreading ourselves more into the services and software aspects of the game and this broadens our product offering,” She adds.
Orr also highlighted that the acquisition would enable Mustek to offer a more comprehensive range of services to its resellers and customers.
CyberAntix, co-founded by Morne Terblanche (General Manager) and Pierre Jacobs (Head of Operations and Compliance), has been operational for four years, providing services such as threat detection, vulnerability scanning, incident response, and security awareness training.
“We have a reseller strategy that fits seamlessly with Mustek as a reseller of technology. They have a sales team and a client base they are already offering services to. Mustek is so well established in South Africa and in Africa that as CyberAntix we can leverage on that to penetrate the market,” said Terblanche, expressing optimism over the future of CyberAntix.
The company’s offerings have positioned it as a critical player in the cybersecurity space, capable of providing tailored solutions to plug security gaps or integrate with clients’ existing systems.
Despite the acquisition, CyberAntix will continue to operate independently but will undergo rebranding to better integrate into the Mustek Group. This strategic move will enable Mustek to expand its footprint in the African market while addressing the rising demand for security solutions across various industries.
