Multisource wraps up iBurst acquisition

Multisource has completed its acquisition of WBS – the parent company of iBurst and Broadlink – following approval from the Competition Commission and Icasa.

The shareholders of Multisource include consortiums led by Phumlani Moholi, former CTO of MTN, and the family interests of Paul Harris and Michael Jordaan, together with management.

The future shareholding structure is being finalised, and will include these parties as well as new members.

“Now that the acquisition is finalised, we will participate at a more operational level with the WBS group and will collaborate on a strategy going forward,” said Multisource.

Duncan Simpson-Craib has been appointed as Group CEO, Phumlani Moholi CEO of the network, and Brandon Leigh – the founder on the new group – will head up Group Strategy and Product Development.

Ravi Naidoo, the founder of Interactive Africa and Design Indaba, will become a shareholder and non-executive director and will guide the brand strategy.

“The intention is to develop the existing businesses and network to leverage the valuable spectrum licence that WBS holds.”

“The technical and business telecommunications expertise that exists within Multisource will strengthen the WBS team.”

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Multisource wraps up iBurst acquisition