Introduction
In a bold move to solidify its presence in the cybersecurity landscape, South African IT giant Mustek has secured a 70% stake in CyberAntix, a security operations centre-as-a-service provider, from Sizwe Africa IT. This acquisition is part of Mustek's strategic push to expand its cloud, software, and security services divisions.
The Deal Breakdown: R20 Million Investment
The acquisition deal is valued at R20 million (approximately $1.1 million), comprising an R8 million ($457,820) share transfer and a R12 million ($686,730) shareholder loan. Sizwe Africa IT, which is indirectly owned by Ayo Technologies via its subsidiary Zaloserve, decided to offload its majority stake in CyberAntix as part of a shift in its business strategy.
Meanwhile, NIL Data Africa, a multinational IT services company, retains its 30% stake in CyberAntix.
Strategic Shift for Sizwe Africa IT
Ayo Technologies, which holds a 55% share in Sizwe, explained that while CyberAntix has significant growth potential, scaling the company would require more investment over time. The sale allows Sizwe to focus its resources on other critical business areas and pursue new partnerships in the cybersecurity sector, with a focus on expanding by the end of 2024.
Mustek’s Growth Vision: Expanding Software and Security Divisions
For Mustek, this acquisition is a strategic fit within its broader vision to grow its cloud, software, and security services divisions. Nicole Orr, Chief Marketing Officer at Mustek, emphasized that the deal aligns perfectly with their goal of offering an enhanced suite of services to clients.
“It was an easy decision in terms of expanding Mustek’s product portfolio, especially in the software and security sector. This acquisition will allow us to provide a more robust and comprehensive range of services to our resellers and customers,” Orr noted.
CyberAntix: Four Years of Security Innovation
Founded by Morne Terblanche and Pierre Jacobs, CyberAntix has built a solid reputation over the past four years, offering a wide range of cybersecurity services. These include threat detection, vulnerability assessments, incident response, and security awareness training. Its expertise in providing tailored solutions has made CyberAntix a key player in addressing the ever-evolving security challenges facing businesses.
Future Prospects: New Revenue Streams and Strategic Rebranding
As CyberAntix integrates into Mustek’s ecosystem, the company is exploring innovative partnerships, including collaborations with insurance companies to bundle cybersecurity services with insurance packages. Such partnerships could unlock new revenue streams for Mustek while adding value to its customers.
Despite the acquisition, CyberAntix will maintain its operational independence but will undergo rebranding to reflect its new role within the Mustek Group. This rebranding will position Mustek to capitalize on the growing demand for cybersecurity solutions across Africa, ensuring that the company remains competitive in a rapidly evolving market.
