The first pure technology company to list on the JSE’s AltX in 18 years, decision support technology group 4Sight, has artificial intelligence (AI), machine learning (ML), Internet of Things (IoT) and Big Data technology capabilities, which are reshaping business and individual lives worldwide, 4Sight CEO Antonie van Rensburg says.

The group, which is incorporated in Mauritius and employs about 300 people, was formed after 4Sight acquired digital services company Digitata Mauritius in June.

The group operates in 25 countries and supports about 1 700 corporate customers, and its systems and services impact on about 16-million end consumers daily, Van Rensburg notes.

“We are focused on the Industry 4.0 space and our listing offers investors the [opportunity] to invest in the new technologies. This also provides the opportunity to invest in these technologies within Africa. These technologies are disrupting the world and provide new business opportunities.”

The listing enables 4Sight to raise up to R300-million, which will be used for acquisitions and the incubation of new products in sectors like retail and healthcare.

A private placement prior to the listing attracted 1 000 investors and the collective issuance of 56-million shares raised R112-million, which enables 4Sight to complete the acquisitions of Digitata South Africa (formerly network optimisation and dynamic pricing company Rorotika Technologies, cofounded by 4Sight executive director Thinus Neethling) and data science and visualisation company Visualitics, besides others.

The group, through its subsidiaries, earns its income mainly from licensing intelligent algorithms in a software-as-a-service annuity revenue model.

The Digitata acquisition provides 4Sight Holdings with an active regional office footprint in New Zealand, the United Arab Emirates and Panama, while the company also has sales representatives in Canada, the US, the UK, Sweden, France, Spain, Malaysia, Singapore and many African countries, including Mauritius and South Africa.
4Sight plans to expand further through organic growth and acquisitions, seeking profitable businesses with deep data science skills.

JSE capital markets director Donna Nemer notes that 4Sight is the first technology-focused company to list on the stock exchange in the past three years. There have been 17 listings on the JSE this year, six of which companies were listings on the AltX. More than 30% of companies on the AltX eventually migrate to the main board.

“About 20% of the trades on the JSE are concluded by foreigners and about 40% of the total value of the companies is held by foreigners, meaning that the JSE is not only the biggest African stock exchange but also an international exchange.”

She also highlighted that about 97% of 4Sight’s earnings are generated outside South Africa, which acts as a rand hedge, because the company derives its revenue from diverse geographic locations.