Isaac Mophatlane’s Randvest has made its first big acquisition, buying up 100% of IT infrastructure company Bridging Technologies SA (BT-SA).
The acquisition was effective from 1 March 2018.
BT-SA, which has been in business for 35 years, specialises in data network, communications, air-conditioning, electrical and security solutions to businesses in southern Africa.
It is headquartered in Midrand, with four branches around the country, and employs about 100 people.
BT-SA’s board of directors now consists of Mophatlane, Themba Gumbi and Lawrence Weitzman. Former directors Bertie Strydom and Erik Jordaan will continue to be involved in the day-to-day business as external consultants.
Mophatlane believes there is plenty of opportunity for an infrastructure company like BT-SA. “Our sense is there there is a lot of legacy that needs to be updated, so there is lots of opportunity.
“We are taking the view that the data centre business is growing. The more people connect to the Internet; the more smartphones; and the more mobile workers there are, consuming data becomes key. And so we believe there is opportunity for significant growth in infrastructure.”
There is also room for growth in the corporate and public sector data centre environment, he adds, as well as with the cloud computing providers.
He stresses the BT-SA complements the work down by telcos and mobile operators. “We don’t see ourselves as a data centre player. We see ourselves as a service to them, partnering and collaborating with them to help them roll out their data centres faster.”
Although BT-SA is Randvest’s first significant technology investment, the private investment holding company has also invested in a smaller fintech and anticipates a couple more technology-focussed acquisitions before the end of the year.
For BT-SA, its business as usual for now while the acquisition is bedded down and a new strategy formulated.
“Our existing customers can continue to expect the same level of commitment and a new level of insights with the new team,” says Gumbi.
“For new customers, we are ready for engagement as a new entity that has the dynamism of diversity, energy and expertise.
“We believe it is the right time for growth, for expanding the horizons of the business.”