The Barclays Africa Group, formerly Absa, is weighing up a move to purchase the automated teller machine (ATM) business of Bytes Technology Group.<\/p>\n
This is according to BusinessDay<\/a>, which cites the deal as a “large transaction” as classified by the Competition Commission.<\/p>\n The paper said that proposed transaction was filed with the competition authorities last month, although its value is undisclosed.<\/p>\n Barclays declined to comment on the deal.<\/p>\n In 2012, Absa contracted Bytes Managed Solutions, to overhaul its entire ATM network across South Africa over a three-year period, while also provide ongoing IT services and support for a five year period.<\/p>\n In July, last year, Bytes, which is a wholly-owned subsidiary of JSE-listed Altron Group, won an Absa ICT contract worth R400 million, to provide services across Africa.<\/p>\n BusinessDay noted that in its annual report for 2013, Altron said that it\u2019s retail ATM base and operations, were being “held for sale”.<\/p>\n The ATM division of Bytes, falls within its Bytes Managed Solutions arm, which saw revenue grow in 2013, by 35% to R1.6 billion. EBITDA improved by 17%, with higher sales of NCR Automated Teller Machines and Point of Sale devices.<\/p>\n Asked by BusinessDay if Bytes Technology was up for sale, Altron TMT chief executive, Craig Venter, said only parts of it. “Bytes is a group of companies. Within this group of companies we are always looking at which businesses are core and which are not.”<\/p>\n Asked about it’s ATM business, Venter said: “We can only make an announcement if a deal has been transacted.”<\/p>\n Altron reached an agreement in April 2014 with Kagiso Tiso Holdings to acquire 27% of BytesSA for R669 million.<\/p>\n Bytes wins R400 million Absa IT contract<\/strong><\/a><\/p>\nMore on Bytes and Absa<\/h3>\n