Jasco Electronics Holdings (Jasco) announced on Monday 2 April 2012 that it has completed the acquisition of ARC Telecoms for an undisclosed amount.<\/p>\n
According to Jasco, this acquisition will bolster its customer base and annuity business, enabling the company to take its products to a broader local market. ARC Telecoms will be incorporated into Jasco ICT Solutions.<\/p>\n
Former ARC Telecoms CEO, Steve Briggs said that this acquisition is the logical next step for the company.<\/p>\n
\u201cIt offers us and our customers\u2019 greater stability and scale which, in turn, enables us to be more innovative and progressive,\u201d said Briggs.<\/p>\n
World of Avatar CEO, Alan Knott-Craig junior – who sold all his shares in ARC Telecoms – said that \u201cgiven the highly competitive industry the company operates in, it was the sensible option for shareholders to seek a large player in the telecoms market to partner with\u201d.<\/p>\n
Mark van Vuuren, MD of Jasco ICT Solutions, said that there are great synergies between the existing Jasco ICT Solutions business and the offering delivered by ARC Telecoms.<\/p>\n
\u201cWe look forward to taking the integrated, end-to-end Jasco offering to ARC\u2019s mid-market customer base. ARC Telecoms boasts a business model that is entirely annuity revenue-driven – an area which The Jasco Group has identified as one of strategic importance,\u201d said Van Vuuren.<\/p>\n
Briggs and Knott-Craig would not comment on the acquisition amount. \u201cThe financial details of the deal are confidential,\u201d said Briggs.<\/p>\n
Knott-Craig told MyBroadband BusinessTech that he \u201chasn’t had sight of the deal this week,\u201d and referred questions about the deal to Briggs.<\/p>\n