The Huge Group, recently listed on the AltX, is to merge subsidiary TelePassport and the newly-acquired Centracell to create a new managed telecoms player, Huge Telecom.
The company bought Centracell last week.
CEO Anton Potgieter comments: “The CentraCell acquisition, together with TelePassport, will create a formidable force in the telecoms market. This merger is expected to quickly set new standards in the emerging managed telecoms market.”
Huge Group financial director James Herbst says that the creation of Huge Telecom completes the transformation into a significant listed telecoms player. “This is amply noted by a current annual turnover of R500-million in annuity revenue streams,” says Herbst.
Potgieter says additional strong growth is expected.