Allied Technologies (Altech) is to sell its Altech NamITech SA business to global digital security leader Gemalto.
Altech NamITech, with revenues of about R200-million, is a leading provider of secure cards and services in the southern African area. Its Linbro Park facility provides secure banking personalisation services to major banks in South Africa, employing approximately 350 people.
Altech Card Solutions, Altech ISIS and Altech NamITech West Africa are not included in the transaction and remain part of Altech group.
Altech NamITech West Africa which is located in Lagos, Nigeria, currently employs over 450 employees. The company manufactures pre-paid cellular vouchers, which it supplies to all 5 major telecommunications operators in Nigeria. Altech NamITech West Africa is currently producing over 75-million pre-paid vouchers per month. This successful business is growing steadily and is unaffected as part of this deal.
Craig Venter, CEO of Altech Group, comments: "We have had a business relationship with Gemalto for over 15 years. We believe that this transaction provides the best future for the Altech NamITech team and the best support to our customers. It is our intention to continue to have a working relationship with Gemalto on a technology alliance partner basis for the future."
Olivier Piou, CEO of Gemalto, adds: "Africa is a region on the rise for us. This project will enable us to grow our service offering to southern Africa customers, and contribute to the development of the industry in the area."
Gemalto is a leader in digital security with pro forma 2007 annual revenues of over €1.6-billion, more than 85 offices in 40 countries and about 10 000 employees including 1 300 R&D engineers.
The transaction, which has been signed by both parties, is subject to approval by the South African Competition Commission, and is expected to close shortly.