South African technology firm Mustek has made a bold entry into the cybersecurity market by acquiring a majority stake in CyberAntix, a company specializing in security operations centre-as-a-service (SOCaaS). Mustek has purchased a 70% share in CyberAntix from Sizwe Africa IT, a subsidiary indirectly owned by Ayo Technologies through Zaloserve, for R20 million (approximately $1.1 million). This transaction includes an R8 million ($457,820) equity exchange and a R12 million ($686,730) shareholder loan.
Strategic Divestment by Sizwe Africa IT
Sizwe Africa IT, which is 55% owned by Ayo Technologies, decided to divest from CyberAntix as part of a strategic shift. While acknowledging CyberAntix’s potential for growth, Ayo recognized that the company’s expansion would require significant long-term investment. This sale allows Sizwe to redirect its focus towards other core business areas, while still exploring new partnerships in the cybersecurity space by the end of 2024.
Mustek Strengthens Its Security Services
For Mustek, this acquisition represents a significant boost to its cloud, software, and security services divisions. Nicole Orr, Mustek’s Chief Marketing Officer, highlighted the alignment of this move with the company’s strategic goals to enhance its offerings in software and cybersecurity. Orr noted that CyberAntix’s capabilities would complement Mustek’s existing services, providing a wider range of solutions for its resellers and end-users.
“This acquisition was an obvious choice for expanding our product portfolio in software and security services,” said Orr. “It strengthens our position to offer more comprehensive services to our clients.”
CyberAntix: A Key Player in the Cybersecurity Arena
Founded four years ago by Morne Terblanche and Pierre Jacobs, CyberAntix has established itself as a significant player in the cybersecurity industry. The company offers a wide range of services, including threat detection, vulnerability scanning, incident response, and security awareness training. CyberAntix has built a reputation for delivering tailored cybersecurity solutions that meet the unique needs of clients or enhance their existing security infrastructure.
With this acquisition, Mustek is now poised to deliver more robust, bespoke security solutions to organizations across Africa. Terblanche expressed optimism about CyberAntix’s future under Mustek, revealing that the company is pursuing partnerships with insurance firms to embed cybersecurity solutions into insurance packages, opening up new revenue streams.
Rebranding and Future Expansion
While CyberAntix will retain its operational independence post-acquisition, it will undergo a rebranding process to align more closely with the Mustek Group. This strategic move positions Mustek to further extend its reach in the African market, responding to the growing demand for comprehensive and customized cybersecurity solutions across various industries.
With the integration of CyberAntix’s services, Mustek is better equipped to meet the increasing security needs of businesses in Africa, marking a key milestone in its expansion into the cybersecurity sector.