Ayo Technology Solutions Limited And African Equity Empowerment Investments Limited Announce Joint Acquisition Of Italian Summer
Ayo Technology Solutions Limited And African Equity Empowerment Investments Limited Announce Joint Acquisition Of Italian Summer. SGT Solutions Proprietary Limited, a company owned 40% by AYO and 60% by AEEI respectively, entered into a binding agreement to purchase Italian Summer for R73 628 544.
Italian Summer, through the Company, supplies, installs and maintains power management and backup solutions and related equipment and products for commercial and industrial applications. Italian Summer supplies the solutions to customers in a variety of sectors throughout Southern Africa, including large commercial institutions, industrial manufacturing plants, and government departments. Italian Summer supplies and services these entities both directly and indirectly through its network of agents covering a broad geographic range.
The rationale for entering into the transaction is that potential synergies exist which would be beneficial to both SGT and Italian Summer, and ultimately create a larger market share in the telecommunications sector through an increased value-add as well as access to new potential customers. SGT Solutions is a turnkey solutions integrator specialising in the design, supply, deployment, commissioning and maintenance of multi – technology telecommunication systems for mobile broadband and converged solutions, through partnerships with its customers and technology providers. To achieve this all structures in SGT work closely with the customer to ensure a complete network ownership cycle: from analysing user requirements through concept design and planning, to implementation and operation if needed, as well as continuous optimisation of their network through its life cycle.
Founded in 1996, AYO Technology Solutions is a technology investment company with interests in disruptive technologies that advance life, business and economics. The group’s diverse investment portfolio touches on all aspects of technology from connectivity to communications and software development.AYO’s vision is to be the leading Africa-based technology group driving smart living, playing and working throughout the continent and beyond.
African Equity Empowerment Investments Limited (AEEI) is a majority black-owned and black-managed JSE-listed investment holding company and is a subsidiary of Sekunjalo Investment Holdings (Pty) Ltd. AEEI, a JSE-listed diversified investment and empowerment company, has investments in fishing and brands, technology, events and tourism, health and beauty, and biotherapeutics, all supporting B-BBEE and small, medium, and micro-enterprises (SMMEs).
