Altron gets green light for Ubusha buyout
JSE-listed Allied Electronics (Altron) has secured Competition Commission approval for its R360-million acquisition of identity security company Ubusha Technologies.
Through subsidiary Altron TMT, the group, in December, entered into the deal with Ubusha’s holding company Gydan Investments to buy the identity security provider in an effort to strengthen its existing capability in the information technology (IT) security market.
“This acquisition was the springboard for the creation of a new division, Altron Security, which will allow us to begin to offer solutions in identity management,” said Altron CEO Mteto Nyati in a statement on Wednesday.
Security is one of Altron’s growth areas and the acquisition will give impetus to the company’s strategy and growth targets, which also include cloud, the Internet of Things and data analytics.
The transaction will enable Altron to offer customers a securely managed identity profile for their clients across devices, platforms and locations, while Ubusha will have access to new markets and customer segments.
Ubusha enables dynamic authentication and authorisation, identity management and governance and privileged account security for local and international banking, financial services, insurance, telecommunications and retail customers.
“Identity security is increasingly important for individuals and businesses alike, and this unique identity management technology will help our customers manage personal data profiles securely, in line with data privacy compliance and governance laws around the world,” he concluded.
Comments
The
functionality
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation