Published 11 September, by a staff writer
AYO Technology, previously Sekunjalo Technology Solutions, has entered into a binding offer to acquire a controlling interest in Sizwe Africa IT.
AYO Technology has entered into an agreement with Loxisource and Alexisource, to acquire 55% of the share capital of Zaloserve from Loxisource and Rev Vukile Mahana. Zaloserve is an investment holding company that holds a 100% shareholding in Opiwize, which in turn holds a 100% shareholding in Sizwe.
The purchase price for the 55% interest in Zaloserve is R165 million, based on an equity value of R300 million for Zaloserve.
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