On Friday, October 11, South African IT company Mustek announced an exciting new development: they have acquired a 70% stake in a cybersecurity company called CyberAntix for $1.1 million.
This deal, valued at R20 million, includes R8 million for the transfer of shares and R12 million as a shareholder loan.
Sizwe Africa IT, which owned CyberAntix, decided to sell its stake as part of a change in its business focus. The remaining 30% of CyberAntix will still be held by NIL Data Africa, a global IT service provider.
Ayo Technologies, which has a 55% share in Sizwe Africa IT, explained that while CyberAntix has a lot of growth potential, it will need extra investments in the future. The sale allows Sizwe to focus on other important projects, with plans to find new partnerships in cybersecurity by the end of 2024.
Mustek, on the other hand, sees this acquisition as a way to grow its cloud, software, and security services. Nicole Orr, Mustek’s Chief Marketing Officer, shared, “It was really a no-brainer in terms of expanding Mustek’s product portfolio, specifically on the software and security side of the business.” She added that this will help Mustek offer a wider range of services to its customers and partners.
CyberAntix was co-founded by Morne Terblanche and Pierre Jacobs and has been around for four years. They provide important services like threat detection, vulnerability scanning, incident response, and security training. Their work has made them a key player in the cybersecurity field, helping clients strengthen their security.
By integrating CyberAntix’s services, Mustek will be able to offer even more personalized security solutions to organizations all over Africa. Terblanche expressed excitement about the future, mentioning that CyberAntix is looking into partnerships with insurance companies to include cybersecurity solutions in their packages, which could bring in new revenue for Mustek and provide extra value for customers.
Although CyberAntix will still operate independently for now, they will be rebranding to fit better with the Mustek Group. This strategic move allows Mustek to expand its presence in Africa while meeting the growing demand for security solutions in many industries.
