Altron is a proudly South African founded platform and IT services company who has been harnessing the power of data, technology and human ingenuity to solve real-world problems since 1965.
Altron required a sustainable broad-based BEE ownership solution which promotes access to information and communication technology (“ICT”) related education opportunities to address the increasing scarcity of ICT skills in South Africa. The solution needed to compliment Altron’s existing B-BBEE initiatives and assist Altron in meeting the BEE ownership targets of the ICT sector.
Pallidus provided a sustainable B-BBEE ownership solution which compliments Altron’s commitment to education and innovation within the ICT sector whilst addressing Altron’s BEE ownership requirements. Through the transaction, a broad-based trust (Altron Foundation Trust), with the objective of providing bursaries for ICT related education, acquired a 20% interest in Altron’s South African operations in a sustainable manner.
OUR CLIENT
SECTOR
Information and Communication Technology (ICT)
PALLIDUS’ Role
Sole corporate finance advisor and transaction sponsor
TERRITORY
South Africa