On The Money - In Brief

Mergers, Acquisitions and Financial Results

- South Africa’s Competition Commission on Tuesday last week recommended that the proposed merger between listed technology company Allied Technologies (Altech, ALT) and NamITech Holdings be prohibited. The Commission has referred the proposed merger to the Competition Tribunal. The reasons cited by Commission for the proposed prohibition are that the transaction would remove an effective competitor from the market and create significant competition concerns in both horizontal (competitor) and vertical (supply chain) relationships.

- Three new technology ventures have been born with the help of South African billionaire Mark Shuttleworth. An innovative device that allows for a measured use of high viscosity fluids in tubes such as toothpaste, a break-through "intelligent" computer software monitoring production processes and a high technology train rail system are ready to enter world markets after funding by the popular young African cosmonaut. Support through funding, networking, marketing, recruitment solutions and business advice form part of the package offered by Shuttleworth’s appropriately named venture capital company, Here Be Dragons, or HBD. The name refers to the term used on ancient mariners’ charts to specify as yet unexplored territory.