4Sight buys engineering technology company for R54.8 million

Newly listed technology company 4Sight Holdings has entered into an agreement to acquire engineering technology company BluESP Holdings for R54.8 million.

4Sight is a technology group investing in established ‘Industry 4.0’ companies using technologies such as artificial intelligence (AI), machine learning (ML), algorithms and the Internet of Things (IOT).

R19.8 million has been settled through the issue of vendor shares at R2.00 per share, while the 17 500 000 shares will also be issued at R2.00 per share in settlement of the
share portion post listing. BluESP Holdings will become a subsidiary of 4Sight.

BluESP is an engineering technology company, focussing on delivering software solutions to the mining and manufacturing sector. These solutions enable companies to operate their processing plants or manufacturing processes optimally, maximising revenues, eliminating inefficiencies and minimising costs.

BluESP is based in Jukskei Park, South Africa. BluESP and its partner’s products have been deployed across the globe by the BluESP team. It has an industry partnership with AspenTech, a leading global provider of asset optimisation software solutions for capital intensive industries. BluESP is AspenTech’s world-wide partner for the mining sector.

It’s customers in South Africa include Sasol, Columbus Stainless, Anglo-American, Glencore, Impala Platinum, Lonmin, Samamcor, Tharisa, Tronox, South32, Chevron, Arcelor Mittal, Natref and Kynoch.

Global customers include First Quantum Minerals (Zambia), Mount Isa Mines (Australia), Sekura (Malaysia), GS Caltex (South Korea) and Shell (Germany).

“The acquisition of BluESP is line with 4Sight Holdings’ acquisitive and organic growth strategy of acquiring industry 4.0 companies and provides the 4Sight Holdings group with deep skills in data science and real-time decision-making solutions, with large customer bases internationally and in South Africa, and the ability to enhance solutions across customers and industries,” 4Sight  said.

Read: 4Sight lists on the JSE

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4Sight buys engineering technology company for R54.8 million