Analytics and technology services company Mettus is focusing on achieving core business growth, geographic expansion, acquisitions and innovation, after it was established through the recent sale of information technology services company EOH’s four information services subsidiary businesses.
The new ownership structure aims to create a multibillion-rand revenue powerhouse in four years, while also opening new growth avenues into other market segments, the company says.
The Mettus management buyout is backed by global private equity firm Lightrock, which is the local private equity firm Acorn Black Investments.
The new structure and backing sets the right tone on governance, while freeing the business to innovate and focus on future growth, harnessing the wealth of resources it has at its fingertips and expanding into new regions.
The backing of an established global partner with such respected credentials, especially in emerging markets and the retention of key local know-how was the perfect outcome. However, finding the right partner has taken three years with many ups and downs along the way, says Mettus CEO Vivian Pather.
“The wait was worth it and the focus is now on harnessing our core businesses, while building out new geographies and innovation that will drive sustainable growth and solve problems for our customers. We have the right partners, and the right products, people and support base to catapult forward into an extremely exciting future,” he adds.
Some African regions and countries have immense upside potential, but also risks. The company's aim is to remain highly strategic and to play to its strengths, while grasping the right opportunities across the technology, data and analytics space. Mettus wants to be a part of that upside and hopes to make some announcements soon, he notes.
The four South African brands are set to shine within the new structure, including background screening and vetting company Managed Integrity Evaluation, credit information bureau Xpert Decision Systems, risk analytics company Hoonar Tekwurks Consulting South Africa, and software development company zenAptix.
“Each of our businesses has the ability to bring unique and innovative solutions across the spectrum of risk management, identity management, digital enablement and growth opportunities for our customers across the continent,” says Mettus Group strategy, product, data and analytics executive Premlin Pillay.
“Over the past month, we have renewed our vision and solidified our strategy. The different operating models have been repurposed for greater cost and process efficiencies to ensure enhanced delivery and service excellence.”
In line with the expectations of future growth, a talent acquisition drive through a graduate and internship programme was also launched, with the aim to build a critical mass of data and analytics skills. Over the next four years, Mettus will look to hire at least 50 interns and intends to do more in developing local talent.
“While we are focusing on the various components of data, artificial intelligence, technology and analytics, and their various components, we want to deliver deep and meaningful insights that solve real problems, whether it is to combat fraud through reliable vetting, reliable credit checks or cutting-edge insights and solutions,” he says.
“In the hard-edged world of data and algorithms, we want to apply a more humanistic approach, focusing on the ethics around data, building trust with those who entrust their data and information to us and essentially using technology and data as a force for good,” Pillay states.
Further, alongside Lightrock and Acorn Black Investments, the Mettus management team has taken a material stake in the group. The business is gearing up to use its new-found wings to accelerate expansion and seek out new markets, while still focusing on building on its core businesses, the company says.
“We feel privileged to have been able to help construct the new architecture under which the various business units will all be able to grow unchecked. Lightrock has a specific mission to invest capital into companies as a means of scaling not only growth, but also making a contribution to society. Mettus, with its management team ambitions unlocked, is poised for exactly this,” Lightrock partner and head of Africa Shakir Merali says.