EOH Announces The Sale Of Its Two Subsidiaries To Seacom
EOH Announces The Sale Of Its Two Subsidiaries To Seacom. EOH has announced that it has sold its Network Solutions business (“EOH-NS”) and Hymax (SA) Proprietary Limited to Seacom South Africa, for R144.9 million. EOH-NS and Hymax have vast experience in the delivery of wholesale and managed service solutions for the networking and voice segments of the telecommunications industry.
Over the past two years, EOH has embarked on a targeted disposals strategy which includes assets that are capital intensive. In support of this and due to EOH’s current capital constraints, relative to the Mobile Network Operators (MNOs), and as the Group prioritises creating a fit-for-purpose capital structure, EOH has looked to ensure that EOH-NS and Hymax can continue investing in world-class infrastructure and maintain their service excellence.
EOH is one of Africa’s leading technology services providers covering the entire information and communication technology (‘ICT’) value chain including offerings in: IT-managed services, security, automation, cloud solutions, data and development capabilities, proprietary IT product resales, IT consulting and implementation services. The Group’s geographic footprint extends across Africa, UK, Europe and the Middle East. EOH is a company that provides the technology, knowledge, skills and organisational ability critical to Africa’s development and growth. Following the Consulting, Technology and Outsourcing model, it provides high value, end-to-end solutions to its clients in all industry verticals.
Originally envisioned by a group of African investors in 2007, SEACOM is a privately owned and operated pan-African ICT enabler, offering a best-in-class quality of service international network. EOH believes that SEACOM’s position as a leading ICT and internet connectivity supplier for African enterprises as well as their stated strategic objective of strengthening its enterprise offering, provides a compelling opportunity for value unlock for EOH-NS and Hymax, both for existing and future clients and the transferring employees.
