Altron to acquire IT business Lawtrust for R245 million
The acquisition will set Altron up to offer an even more comprehensive tech offering than it currently does.
Altron will acquire IT firm Lawtrust from Etion, subject to the approval of the Competition Commission.
Lawtrust is a provider of digital trust services and cyber information security solutions, including authentication of digital identities and counterparty systems in transactions, data encryption, digital signatures, and biometrics. Over 500 customers in the private and public sectors use Lawtrust’s services today.
Founded in 1965, Altron has a direct presence in South Africa, rest of Africa, Europe, the Middle East and Australia. In addition, the group’s strategic partnerships with leading international technology companies give it access to leading technology capabilities and products from across the world, including Asia, Europe and North America. Altron’s primary business provides innovative solutions, across a range of verticals, that have a meaningful impact on society by addressing challenges facing communities in South Africa, the continent and beyond, while delivering shared value for all its stakeholders.
“In 2019 we acquired Ubusha Technologies, a leader in identity management. Ubusha formed the foundation of Altron Security. It has proven to be a great acquisition as customers accelerated their digital transformation due to Covid-19. The acquisition of Lawtrust positions Altron Security as a one-stop-shop for all that is digital and information security,” said Altron group CEO, Mteto Nyati.
“Security is one of our key growth areas, in addition to cloud, data and automation. What differentiates Lawtrust is the level of intellectual property they own and an annuity base of 70%. These are key characteristics of the Altron 2.0 strategy,” added Nyati.