Poynting Holdings has acquired the division of Saab Grintek Defence that develops, manufactures and sells antennas and radio frequency distribution equipment for commercial and telecommunication applications.
Most of its products – including antennas, cables, diplexers, amplifiers and couplers – are used at cellular base stations.
Poynting designs, manufactures and supplies products to the telecommunications and military defence industry, both within South Africa and internationally. The company supplies equipment to customers of cellular networks but currently does not supply base station equipment.
The Grintek acquisition will facilitate Poynting's entry into the base station infrastructure segment of the cellular market and provide synergies in terms of customer base and product range.
The purchase consideration of R2,87-million, was settled in cash.