Mergers, Acquisitions and Financial Results

South Africa’s Internet Solutions has acquired a controlling stake in Kenyan ISP Interconnect. The company will be renamed Internet Solutions Kenya. In the deal, IS will inject Sh300million in fresh capital. Part of the capital, Sh100 million, has been set aside to upgrade systems.

ISK managing director, Tej Bedi, said the company would roll-out new technologies and services such as multi protocol label switching, which is designed to offer a cost effective virtual private network to organisations. The acquisition is part of the IS growth strategy to gain a footprint in the local and the greater Eastern and Central African market.

"We will ensure the product mix is right for the Kenyan market, by deploying our proven services in Kenya," IS business development director Ermano Quartero said on Tuesday evening, at a function to announce the deal.

The company is a leading converged communications service provider in South Africa boasting a client base of over 4,500 companies, including 80 per cent of South Africa's top 250 listed companies.

The East African Standard