Jasco acquires Ramm Technologies stake to bolster technology offering
JSE-listed Jasco Electronics has acquired a 51% stake in Ramm Technologies for R30.6-million in a deal that will allow it entry into asset-tracking markets through Internet of Things (IoT) platforms, as well as provide further growth in new sectors and several cross-selling opportunities.
Ramm, which operates its own national operations centre and which has operations across Gauteng and the Western Cape, bolsters Jasco’s access to real-time asset monitoring and management; workforce tracking and productivity analysis; experienced and capable management team; and the opportunity to offer proactive monitoring services to its existing customer base through the operations centre.
“This acquisition is another step in the group’s strategy of measured acquisitions that either bulk up existing businessunits or fill gaps in our portfolio to supplement organic growth,” said Jasco CEO Pete da Silva on Friday.
“This acquisition by Jasco will have numerous benefits for Ramm. It will improve our reach in terms of technology and sales and marketing, as well as allow cross-pollination of our customer bases, an ability to target larger customers and increased purchasing power,” added Ramm CEO Lindsay Welham.
The management team and founder will stay in place, with three-year retention agreements.
The agreement is effective March 1, with all suspensive conditions required to be met by no later than April 30.