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Altron forms new division following Altech acquisition

2nd August 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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Following the R1.8-billion acquisition of Allied Technologies (Altech) by JSE-listed Allied Electronics (Altron), which is expected to be finalised on August 20, Altron has announced that it will create a new division in the group – the Altron Telecommunications, Multimedia and Information Technology (TMT) division.

The division would comprise certain Altech and Bytes Technology Group businesses and would focus on maximising synergies and eliminating overlaps between the two information technology and telecommunications businesses.

“This will result in the largest converged solutions group on the African continent,” Altron said in a statement on Friday. 

On completion of the acquisition, current Altech CEO and board member Craig Venter would be appointed Altron group executive of the TMT division, with strategic and operational responsibility for managing the new division.

He would also continue as Altech CEO and report to Altron CE Robert Venter

Current Bytes CEO and Altron board member Rob Abraham would continue in his current position, reporting directly to Craig Venter, while Bytes CFO Peter Riskowitz would be appointed CFO of the TMT division.

In addition, Altech chief technology and strategic officer Dr Willie Oosthuysen would, with immediate effect, be appointed to the Altron executive committee as group executive of technology and strategy, reporting directly to Robert Venter.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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