Jasco/ARC deal good news for customers: CEO
Jasco Electronics Holdings (Jasco) announced on Monday 2 April 2012 that it has completed the acquisition of ARC Telecoms for an undisclosed amount.
According to Jasco, this acquisition will bolster its customer base and annuity business, enabling the company to take its products to a broader local market. ARC Telecoms will be incorporated into Jasco ICT Solutions.
Former ARC Telecoms CEO, Steve Briggs said that this acquisition is the logical next step for the company.
“It offers us and our customers’ greater stability and scale which, in turn, enables us to be more innovative and progressive,” said Briggs.
World of Avatar CEO, Alan Knott-Craig junior – who sold all his shares in ARC Telecoms – said that “given the highly competitive industry the company operates in, it was the sensible option for shareholders to seek a large player in the telecoms market to partner with”.
Mark van Vuuren, MD of Jasco ICT Solutions, said that there are great synergies between the existing Jasco ICT Solutions business and the offering delivered by ARC Telecoms.
“We look forward to taking the integrated, end-to-end Jasco offering to ARC’s mid-market customer base. ARC Telecoms boasts a business model that is entirely annuity revenue-driven – an area which The Jasco Group has identified as one of strategic importance,” said Van Vuuren.
Briggs and Knott-Craig would not comment on the acquisition amount. “The financial details of the deal are confidential,” said Briggs.
Knott-Craig told MyBroadband BusinessTech that he “hasn’t had sight of the deal this week,” and referred questions about the deal to Briggs.
Related articles
Loading ...