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Atos Origin Sells Stake in Unit to Black Investors(AllAfrica.com Via Acquire Media NewsEdge) FRANCE-based technology firm Atos Origin has sold a 26% stake in its South African subsidiary to black investors, including prominent businessman Yusuf Surtee, for an undisclosed amount, it was announced yesterday. The new shareholders are African Women Chartered Accountants Investment Holdings (AIH) and Mr Surtee's Manteo Investments. They will receive equal shares. The transaction will assist Atos Origin SA to access public service businesses and also expand into other areas such as financial services. The deal carries a lock-in period of five years and would be funded by Atos through vendor financing, the company said. Winfried Holz, chairman of the local subsidiary and CEO of Germany and central Europe, Eastern Mediterranean and Africa operations, said the deal would enhance growth opportunities in the IT services market. "This transaction will strengthen our business and will give us a boost to participate in growth opportunities in this fast-emerging IT services market," he said. Atos Origin SA country manager Adrian Ralph said the new shareholders were experienced businesspeople with networks in many industries. "They will help us take our business to the next stage. Together, we will diversify into new industries such as financial services and the public sector and increase our presence in the rest of the continent," he said. Manteo Investments' Mr Surtee is a board member of the local subsidiary and his relationship with the group dates back to 1999. Atos said this relationship combined with Mr Surtee's extensive network and knowledge of the telecommunications industry made him an "obvious partner". Mr Surtee said Atos Origin had a strong local management and has proven to be a reliable partner to South African and international companies, "hence I am convinced they are well positioned to further expand". AIH was established in 2008 by 60 black women chartered accountants. Its founding directors include Sindi Mabaso- Koyana, Jesmane Boggenpoel and Karabo Nondumo. AIH director Ms Nondumo said the investment was in line with its philosophy to participate in high-growth opportunities. AIH's other investments are in Foskor and Etana Insurance. Atos said AIH's strong relationships in the financial sector would provide it with further opportunities to expand. Atos Origin provides hi-tech services, consulting, systems integration and managed operations to a wide range of industries including telecommunications, media, manufacturing, financial services, transport, healthcare and medical services. Atos joins several international companies including SAP, T-Systems and Fujitsu Siemens that have sold shares in their local entities to black investors. The group has annual revenues of 5,1bn and it employs 49 000 people worldwide. It employs 250 people in Africa. (c) 2009 AllAfrica Global Media. Provided by Syndigate.info an Albawaba.com company |