https://www.engineeringnews.co.za

Aucom, Poynting merger signals a union of convergence

11th April 2014

By: Anine Kilian

Contributing Editor Online

  

Font size: - +

South African antenna designer and producer Poynting and provider of professional products, system integration and implementation and commissioning services for the broadcast and telecommunications markets in South Africa, African Union Communications (Aucom), formally concluded the acquisition of Aucom by Poynting in an official ceremony in Johannesburg last month.

The signing ceremony included handing over the signed share certificates by Poynting CEO Andre Fourie to the Aucom shareholders, represented by Aucom MD Villiers Joubert.

Poynting board of directors chairperson Coen Bester formally opened the ceremony and cited the event as being a momentous day for Poynting.

“This is Poynting’s first major deal since its listing on the JSE and we expect that it will more than double the company’s turnover,” he said, adding that Poynting’s board has been united from the outset regarding its undertaking with Aucom.

Bester added that the two companies shared the same values and vision.

Poynting acquired Aucom for R49.5-million through issuing 66-million of its shares with effect from July 1, 2013.

The acquisition enables Poynting to diversify its offering by ramping up the distribution of its digital TV products into the previously untapped African consumer market using third-party service providers.

Aucom regards the joining of forces with Poynting as a huge benefit as it has a strong African network and it will be able to leverage Poynting’s innovative product offering and technical expertise to grow market share.

“The key to this merger is that it will enable considerable expansion as a group. There will be more muscle that will give rise to previously unexplored opportunities and enable us to compete against the big industry players,” noted Joubert.

Fourie expects that the deal will facilitate the raising of additional capital for the development of specific projects to meet the needs of the growing African digital television market.

Both companies iterate that the transaction will not affect business as usual, but will strengthen the commitment to providing innovative products, professional services and delivery.

“The merger is about synergy. Aucom and Poynting are joining forces with the intention of attacking the market,” said Joubert.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Latest Multimedia

Magazine video image
Magazine round up | 29 March 2024
Updated 20 minutes ago

Latest News

Magazine video image
Magazine round up | 29 March 2024
Updated 20 minutes ago

Showroom

Magni SA
Magni SA

Magni SA is committed to developing the safest Telehandlers available to our customers for underground and surface mining, construction, forestry,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.084 0.14s - 137pq - 2rq
Subscribe Now