Convergence acquires Datacentrix in play for SA IT market
TLDR
- Convergence Partners' Digital Infrastructure Fund (CPDIF) has acquired systems integrator Datacentrix from Alviva Holdings.
- The existing management team of Datacentrix will continue to guide the company.
- This acquisition aligns with CPDIF's strategy of investing in high-growth companies and strengthens their presence in the digital infrastructure sector.
Convergence Partners announced this week that its Convergence Partners Digital Infrastructure Fund (CPDIF) has reached a definitive agreement with Alviva Holdings to acquire 100% of systems integrator Datacentrix.
This acquisition involves the collaboration of the existing Datacentrix management team, which has effectively guided the company for over two decades. Alviva is divesting from Datacentrix as part of its delisting from the JSE in early 2023, focusing on its core operations in hardware distribution. The terms of the transaction were not disclosed.
The move aligns with CPDIF's strategy of investing in high-growth companies that stand as leaders in their field, boasting robust management teams and substantial customer and vendor relationships. The acquisition positions Convergence Partners to further enhance its presence in the digital infrastructure space.
Points clés à retenir
The acquisition by Convergence comes on the back of a significant $296 million last year through the Convergence Partners Digital Infrastructure Fund (CPDIF). Despite economic challenges, the IT market in South Africa is anticipated to surpass the country's GDP growth with industry revenues expected to reach $7.12 billion this year, and Convergence views Datacentrix as well-positioned to capitalize on this growth. The latter is a prominent provider of ICT integration services, renowned for its agility, industry expertise, and proven capabilities. The acquisition aligns with Convergence’s strategy to invest in high-growth companies with strong management teams, particularly in the digital infrastructure and IT sectors. This move positions Convergence to leverage Datacentrix's capabilities and contribute to the ongoing development of the digital infrastructure landscape in South Africa.
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