Altron announced it has received approval from the Competition Commission to sell Altech UEC, which manufactured set-top boxes.<\/p>\n
The company sold the unit to Skyblu Technologies.<\/p>\n
\u201cThe approval marks the conclusion of Altron\u2019s disposal of assets, in which it had a controlling interest or fully owned, that are no longer core to its strategy as a technology company,\u201d Altron said.<\/p>\n
\u201cI am pleased that the sale of Altech UEC was done in a considered manner and that Skyblu Technologies will carry on the legacy of a proudly South African company and continue to offer employment opportunities and services to customers,\u201d said Altron CEO Mteto Nyati.<\/p>\n
\u201cWe will now focus on executing the One Altron strategy, which is underpinned by cross-selling and selective acquisitions in our technology focus areas for growth in the Internet of Things, security, cloud services and data analytics.\u201d<\/p>\n
CBI-Telecom Cable, in which Altron has a joint venture with Reunert, is currently still held for sale.<\/p>\n
The company said its goal remains that of consistently delivering double-digit growth.<\/p>\n