The management team of email media pioneer Rocketseed South Africa has acquired a majority stake in the company, says John Cooper, the Chairman of London-based Rocketseed Group.
Rocketseed was started by South African entrepreneurs and was subsequently bought by Cooper who saw enormous potential in the business. Cooper is a chartered accountant by training, graduate of Harvard Business School and former regional managing partner of the then Arthur Young (now Ernst & Young).
Today the company has representation in South Africa, Australia, North America and the UK.
Cooper says the transfer of majority ownership to the management team, led by chief executive Tess Sulaman, was in part recognition of the value that they have added to the business over the years. “Sulaman and her team have presided over the company’s most remarkable growth phase,” adds Cooper.
He says this initiative will see Rocketseed South Africa becoming a black-owned and -managed business.
“Unlike many BEE transactions that have been concluded in South Africa, this deal is unique in that the new shareholders’ equity will be unencumbered and debt free. Shareholders will be able to exercise their rights fully and immediately realise the economic benefits that will accrue to them as a result of this transaction,” adds Cooper.
Sulaman says she is delighted with the decision by the chairman to put his faith and trust in management in the manner that he has done.
“It is not often that BEE transactions are concluded in this fashion and we are very fortunate to have a partner like John who is willing to allow us the latitude to run the business with a fair degree of independence from the rest of the group,” says Sulaman.
“Rocketseed South Africa will continue to work closely with the other entities around the world, sharing intellectual capital and client syndication among other collaborative efforts, for the benefit of all stakeholders,” she adds.
Sulaman says Rocketseed South Africa will continue to offer exceptional value to its clients and the company’s strategic direction will continue to evolve and remain responsive to market conditions.
“We hope to see more clients supporting this venture not because it is now a black female-owned company, but because Rocketseed offers exceptional value unparallelled by traditional media platforms,” she says.
“This is an exciting period in the growth of Rocketseed SA, and a home-coming for one of South Africa’s popular brands in the ICT sector.”