Huge Group Announces The Merger Of Huge Networks And Huge Telecom
Huge Group Announces The Merger Of Huge Networks And Huge Telecom. The board of directors of Huge have approved a business combination involving Huge Networks ProprietaryLimited (Huge Networks) and Huge Telecom Proprietary Limited (Huge Telecom), two directly and indirectly wholly owned investment companies of Huge Group. The business combination is a part of Huge’s organic growth strategy, which will underpin significant growth over the medium and longer term, whilst immediately unlocking significant operational benefits and synergies. The combined new entity will leverage the inherent strengths of both companies for growth.
Dr Marius Oberholzer, Managing Director of Huge Networks, has officially been appointed to lead the business combination. The business combination will be implemented with immediate effect and should be completed no later than 1 March 2023, coinciding withthe new financial year of the company. Huge Telecom’s significant national footprint, partner network, regional presence, and national technical resources, combined with Huge Networks’ technology leadership and expertise will greatly enhance the newly enlarged entity’s ability to achieve scale, unlock revenue growth and accelerate the delivery of increased shareholder value. The business combination will immediately yield various operational benefits.
The merger will bring together the commercial, go-to-market and distribution capabilities of Huge Telecom with the products, services and technical capabilities of Huge Networks to create a stronger, more capable entity. The newly enlarged entity will be in a position to offer a significantly expanded product and services catalogue to its customers and more than 900 registered business partners, including an Integrated Telephony Solution (a VoIP service that is integrated into GSM) with dedicated voice transmission and data capabilities that comprise the full spectrum of bearers including fixed 5G and LTE, carrier-grade fibre services and broadband fibre-to-the-business services. In addition, the proposition expands to include data hosting services and platforms, SD-WAN solutions and various security applications.
The newly enlarged entity, with its National Operating Centre (NOC) based in Centurion and East London, will have an expanded national presence with offices in:• Gauteng;• The Western Cape;• Durban, Pietermaritzburg & Escort;• East London;• Port Elizabeth;• Bloemfontein;• Kimberly; and• George. The newly enlarged entity will seek to aggressively grow its already substantial combined customer base of more than 19,000 business and SME customers and will boast a combined turnover (based on historically reported information) of approximately R300million per annum.
