Altron has agreed to acquire Ubusha Technologies for R360 million (US$24 million). Ubusha Technologies is an identity security provider that enables dynamic authentication, authorisation, identity management and privileged account security for local and international banking, financial services, insurance, telecommunications and retail customers. The transaction will enable Altron to offer its customers a securely managed identity profile for their clients across devices, platforms and locations.
The acquisition of Ubusha Technologies is in the region of 9 times EBITDA based on the expected EBITDA of R40-million in the 2020 financial year end. Altron through its principal subsidiaries, Allied Technologies Limited (Altech) and Bytes Technology Group (Pty) Ltd (Bytes), is invested in telecommunications and information technology. The Altron group was founded in 1965 and employs more than 8,500 employees globally with a direct presence in South Africa, rest of Africa, Europe, the Middle East and Australia.