Money – In Brief
- The retail subsidiary of computing company Toshiba, Toshiba TEC, has bought a 12% stake in digital self-service company Yeahpoint, based in South Africa and Australia, to boost its presence in the local market. According to Yeahpoint, the purpose of the investment is to combine the size and market strength of Toshiba TEC with the expertise of Yeahpoint. Toshiba TEC did not disclose the specific details or the value of the deal. The company says the digital self-service market is tipped to boom over the next five years. It believes this deal positions Yeahpoint and Toshiba TEC strongly as key players in what is one of the fastest growing areas for many sectors, including retail, financial services, government and healthcare.
- JSE-listed Allied Technologies has sold a 25% plus one share stake in its set-top box subsidiary to an empowerment consortium, for an undisclosed amount. The sale comes as the Department of Communications (DOC) finalises a set-top box manufacturing strategy that seeks to aid empowerment companies as SA migrates to digital television. Altech UEC will now be a quarter-owned by Power Matla, which will have a 65% stake in the consortium, with Epiworx Investment holding 20%, while Empower a Thousand Holdings will own a 15% stake in the consortium.