The Competition Commission has approved the disposal of Altech UEC, Altron’s set-top box manufacturing business, to Skyblu Techologies.
The approval marks the conclusion of Altron’s disposal of assets, in which it had a controlling interest or fully owned, that are no longer core to its strategy as a technology company.
Mteto Nyati, Altron group chief executive, says: “I am pleased that the sale of Altech UEC was done in a considered manner and that Skyblu Technologies will carry on the legacy of a proudly South African company and continue to offer employment opportunities and services to customers.
“We will now focus on executing the One Altron strategy which is underpinned by cross selling and selective acquisitions in our technology focus areas for growth in IoT, security, cloud services and data analytics. Our goal remains that of consistently delivering double digit bottom line growth.”
CBI-Telecom Cable, in which Altron has a joint venture with Reunert, is currently still held for sale.