South Africa: Thebe Acquires Controlling Stake In VOD Provider Discover Digital
22 November 2019
The black empowerment investment firm Thebe Investment has acquired a 51% controlling stake in Discover Digital South Africa and also 50.1% in Discover Digital International.
The deal, which was recently concluded, will see Thebe control the two entities and work towards fulfilling its strategic goals in the technology space.
Established in 2014, Discover Digital is a successful digital media, content and fin-tech solutions provider.
The company has developed technological solutions for its clients, including video-on-demand (VoD), TV and e-commerce platforms.
This acquisition, according to Discover Digital, will position it for future growth in the fin-tech, digital tech and content spaces.
Stephen Watson, the Founding MD of Discover Digital, said that the deal would position his company to grow across Africa and become a significant player in providing VOD and Internet Protocol TV solutions for broadcasters, telecoms players and content owners from a technology and distribution perspective.
Watson added that the company aspires to maximise its opportunities in Africa and globally, with the benefit of its technology being developed in a soft currency market, where it would be extremely competitive.
Source: ITWeb www.itweb.co.za