Etion Announces The Sale Of Etion Connect. South African technological company Etin has announced the sale of Etion Connect, a supplier of transmission and networking products and services to the telecommunications industry.
The company said in a statement, “Etion concluded a sale of business agreement to sell the assets and operations of Etion Connect, to a newly formed entity consisting of a third-party equity partner as well as the executive management of Connect. The disposal will take effect from 1 April 2022 (“Effective Date”) with all risks in and benefits arising out of the transaction deemed to have passed at Effective Date. Ownership of the Sale Assets and operations shall pass to the Purchaser on the Closing Date, subject to the fulfilment or waiver of conditions precedent.”
Etion is an eco-system of technologically driven business units all committed to one purpose – to create and provide integrated digital technology solutions that will propel humanity forward. A strong, determined and professional portfolio of technology offerings, with experience across a wide range of business sectors. As a fast growing African technology company, the company leverages its own, and partner’s IP to develop, produce, distribute and integrate bespoke and standard technology products and solutions aimed at improving connectivity, safety and productivity for its customers.
The company’s diverse workforce delivers innovation on a daily basis with fresh ideas and a broad cultural mix. It’s heritage in engineering and technology, ranging over 30 years, gives the company a strong understanding of where the world is going and how it can better serve its customers. It creates, digitises and connects technology solutions for a digital world, that is constantly changing.
Etion Connect, formerly known as Tedaka Network Solutions, provides the hardware that enables its customers to provide connectivity solutions to the market. Connectivity is about laying more fibre in the ground to support wireless networks that are strong enough to support hungry applications like paperless classrooms, digitisation of healthcare, connected township entrepreneurs, video streamers, financial services and many other industries to enhance economic activity.