JSE-listed Altron said the Competition Tribunal has approved its acquisition of digital signature services company Lawtrust, which will create the largest digital and information security services provider in Africa.
The R245-million deal will see Lawtrust being integrated into Altron, which also acquired identity management market leader Ubusha Technologies in 2019 to form Altron Security. The acquisition of Lawtrust positions Altron Security as a one-stop shop for digital and information security, Altron Group chief executive Mteto Nyati said on Friday.
Lawtrust is a digital trust services and cyber information security solutions company that provides solutions used to verify the authenticity of digital identities and counterparty systems in transactions, data encryption and digital signatures, as well as biometrics.
Lawtrust provides services to more than 500 customers in the private and public sectors and is an internationally certified Certificate Authority for the provision of publicly trusted digital certificates and digital signatures. Altron Security is also establishing a local presence in the UK where its offerings are in demand, Altron said in a statement.