Listed technology company 4Sight Holdings has entered into an agreement to acquire 70% of the shares in Simulation Engineering Technologies Proprietary (SET) for R53.5 million.
4Sight Holdings, listed on the JSE’s AltX board, operates in telecommunications, media and property services industries, and utilises big data, machine learning, AI, blockchain technology and data science capabilities.
SET is an independent consulting company that specialises in creating accurate discrete-event computer simulation models of complex systems in the mining, rail, logistics, manufacturing and service industries. SET was established in 2004 and its senior staff have been in the simulation industry since 1995.
The company has offices in Cape Town and Centurion and will become a subsidiary of 4Sight Holdings.
SET’s professional services include the application of various industrial engineering techniques and principles like process simulation, production scheduling, warehouse slotting optimisation capacity planning, operations improvement, systems optimisation, work studies, training, etc.
It is also a supplier of various simulation, scheduling and optimisation software packages in Africa and the Middle East with strategic partnerships across the globe.
“The acquisition is in 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,” said 4Sight by way of rationale for the acquisition.
The acquisition is subject to the fulfilment of the certain conditions by no later than 15 April 2018.