MTN has finalised its acquisition of Verizon Business South Africa, which takes effect from 28 February 2009. The company will now trade as MTN Business.
Verizon Business South Africa, part of US-based Verizon Communications, is an established South Africa-headquartered ISP providing full connectivity services to corporate customers in South Africa, Namibia, Botswana, Zambia and Kenya.
The acquisition of 100% of Verizon Business South Africa complements MTN's existing investment in MTN Network Solutions and will expand the mobile operator's ability to deliver mobile and internet-based data services to multi-national corporate clients across the continent, both existing and new.
Tim Lowry, MD of MTN SA, comments: "This acquisition falls in line with our stated objectives of expanding our communications service offerings, particularly to corporate customers, outside of just mobile services."
The acquisition follows on similar acquisitions made by MTN Group in Nigeria, Cameroon, Cyprus and Cote d'Ivoire.
Staff from Verizon Business South Africa will bolster the skills pool of MTN in the voice and data convergence space, an area greatly affected by the existing skills shortage in South Africa.
The deal will expand data and internet offerings in the regions it operates in, to meet the company's strategic geographic and services expansion objectives.
In addition, MTN will now be able to offer existing clients the opportunity to holistically expand and upgrade their existing voice and data infrastructures.
"We believe MTN Business is optimally positioned as a full-service business communications provider of choice for the African continent," says Lowry.
"We are now able to offer end-to-end communications solutions for our multi-national corporate clients operating across the continent. Our ultimate goal is to become the trusted communications solution partner for all our customers, and this acquisition is a significant step in the right direction."