JSE-listed Huge Group on Monday announced that it had acquired an interest in Pansmart, giving Huge Group control over an authorised distributor of Panasonic’s voice, video and surveillance products.
Huge Group has issued a number of its shares to Pansmart as payment.
Pansmart was granted a distribution licence by Panasonic in 2016. Since then, the company has expanded the Panasonic market share with a full technical and sales competency.
This marks Huge Group’s second acquisition for the year, furthering the delivery of its Growing Huge strategy, by including new brand offerings to the company’s portfolio of products.