Huge Group Announces The Acquisition Of Interfile Group
Huge Group Announces The Acquisition Of Interfile Group. South African investment company Huge Group has announced that it has acquired software company Interfile Group for R44 million.
Huge is an investment holding company with a portfolio of over R1.4 billion under management, focused on investments in the connectivity and cloud, software and xTech clusters. Huge is a South African born, purpose-led investment company that creates more meaningful value for its stakeholders through strategic investments in predominantly technology-focused and related sectors. Huge strives to deliver both organic growth in each of its investment clusters, as well as acquisitive growth that allows it to unlock synergies and economies of scale within its investment portfolio – to deliver value.
Huge recordst that its future efforts will firstly focus on identifying and exploiting synergies that exist between its investee companies in its existing investment portfolio and will secondly focus on identifying new investment opportunities in the converging connectivity and cloud, software, and x-tech market segments. Huge intends increasing the contributions of the software and x-tech market segments to its total portfolio. The acquisition of shares of the Interfile Group is aligned to these strategic objectives.
The investment in Interfile is an investment that is aimed at complementing Huge’s existing investee companies’ initiatives and unlocking synergistic value. The synergies between Glovent Solutions, a Huge investee company that provides a Platform as a Service and mobile super apps to communities and municipalities – the most recent being the Saldanha Bay Municipality SmartCity Initiative – and Interfile’s SmartCities and municipality initiatives such as eTshwane, are apparent. At the same time, however, Huge believes that Interfile will open new market segments for Huge Connect, Huge Networks and Huge Telecom, Huge investee companies focused on providing connectivity and cloud services.
