JSE-listed tech group Altron on Tuesday said it has received regulatory approval to sell Altech UEC.
Altron is selling the set-top box manufacturing business to Skyblu Technologies.
The company said the approval marks the conclusion of disposal of assets, in which it had a controlling interest or fully owned, that are no longer core to its strategy as a technology company.
“I am pleased that the sale of Altech UEC was done in a considered manner and that Skyblu Technologies will carry on the legacy of a proudly South African company and continue to offer employment opportunities and services to customers,” said Mteto Nyati, Altron Group CEO.
“We will now focus on executing the One Altron strategy which is underpinned by cross selling and selective acquisitions in our technology focus areas for growth in IoT, security, cloud services and data analytics. Our goal remains that of consistently delivering double digit bottom line growth.”
Altron said CBI-Telecom Cable, in which it has a joint venture with Reunert, is currently still held for sale.