| Wed 17 Dec 2008, 14:00 | | ALT - Altech To Sell Namitech South Africa To Gemalto |
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ALT - Altech To Sell Namitech South Africa To Gemalto
ALLIED TECHNOLOGIES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1946/020415/06)
Share code: ALT
ISIN: ZAE000015251
Altech to sell NamITech South Africa to Gemalto
Gemalto, the world leader in digital security, and Allied Technologies
Limited (Altech) announced today, that they have entered into an agreement
whereby Altech will sell its Altech NamITech South Africa business to
Gemalto.
Altech NamITech, with revenues of approximately ZAR 200Million
(
Euro15Million), is a leading provider of secure cards and services in the
Southern African area. Its Linbro Park facility notably provides secure
banking personalization services to major banks in South Africa, employing
approximately 350 people. Altech Card Solutions, Altech ISIS and Altech
NamITech West Africa, are not included in the transaction and remain part
of Altech Group.
Altech NamITech West Africa which is located in Lagos, Nigeria, currently
employs over 450 employees. The company manufactures pre-paid cellular
vouchers, which it supplies to all 5 major telecommunications operators in
Nigeria. Altech NamITech West Africa is currently producing over 75
million pre-paid vouchers per month. This exceptionally successful
business is growing steadily and is unaffected as part of this deal.
Commenting on the transaction, Craig Venter, CEO of Altech Group said "We
have had a business relationship with Gemalto for over 15 years. We believe
that this transaction provides the best future for the Altech NamITech team
and the best support to our customers. It is our intention to continue to
have a working relationship with Gemalto on a technology alliance partner
basis for the future".
Olivier Piou, CEO of Gemalto added "Africa is a region on the rise for us.
This project will enable us to grow our service offering to Southern Africa
customers, and contribute to the development of the industry in the area."
Gemalto (Euronext NL 0000400653 GTO) is the leader in digital security with
pro forma 2007 annual revenues of over Euro1.6 billion, more than 85
offices in 40 countries and about 10,000 employees including 1,300 R&D
engineers. In a world where the digital revolution is increasingly
transforming lives, Gemalto`s solutions are designed to make personal
digital interactions more convenient, secure and enjoyable.
The transaction, which has been signed by both parties, is subject to
approval by the South African Competition Commission, and is expected to
close shortly.
About Allied Technologies Limited (Altech)
Altech is listed on the Johannesburg Stock Exchange (JSE) and is an
investment holding company, involved in the telecommunications, multi-media
and information technology industries, which employs over 4200 employees in
South Africa and abroad.
As a leading South African multi-billion rand high-technology group, Altech
is involved in the design, development, convergence, manufacture,
installation and distribution of telecommunications equipment, multi-media
systems, IT solutions, electronic components, cellular telephony and
industrial electronic products. There is a strong focus on the convergence
of these technologies and Altech is now also entrenched in the arena of
secure technology solutions.
Strong partnerships with international principals ensure that Altech has
ongoing access to the latest technologies worldwide, while the group`s own
research and development programmes actively encourages and promotes
internal technology advances.
FOR MORE INFORMATION:
Craig Venter: Chief Executive Officer, Altech
TEL: (011) 715-9004
FAX: (011) 715-9045
CELL: 083 236 8000
EMAIL: cventer@altech.co.za
www.altech.co.za
About Gemalto
Gemalto provides end-to-end solutions for digital security, from the
development of software applications, through the design and production of
secure personal devices such as smart cards, SIMs, e-passports, and tokens
to the deployment of managed services for its customers. More than a
billion people worldwide use the company`s products and services for
telecommunications, financial services, e-government, identity management,
multimedia content, digital rights management, IT security, mass transit
and many other applications.
As the use of Gemalto`s software and secure devices increases with the
number of people interacting in the digital and wireless world, the company
is poised to thrive over the coming years. For more information, please
visit www.gemalto.com
Investor Relations Corporate Communication
Vincent Biraud Remi Calvet
M.: +33(0) 6 08 48 33 23 M.: +33(0) 6 22 72 81 58
vincent.biraud@gemalto.com remi.calvet@gemalto.com
Johannesburg
17 December 2008
Investment bank and Sponsor: Investec Bank Limited
Date: 17/12/2008 14:00:21 Produced by the JSE SENS Department.
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