iot.nxt

  1. Luis

    Vodacom's questionable R2 billion valuation of IoT.nxt

    Vodacom’s R2 billion blunder Vodacom’s R2 billion valuation of IoT.nxt when it acquired a 51% stake in the company was questionable, with several experts calling it a blunder. On 4 May 2019, Vodacom agreed to acquire a 51% stake in IoT.nxt for a maximum consideration of R1.028 billion, of...
  3. Luis

    Vodacom-owned company's U.S. subsidiary sued in Texas

    Vodacom-owned company's U.S. subsidiary sued in Texas Vodacom-owned IoT.nxt’s U.S. subsidiary is being sued in the Eastern District of Texas for allegedly failing to honour the compensation agreements of two executives headhunted by the company. The lawsuit was originally filed in October 2022...
  4. J

    IoT.nxt CEO steps down immediately

    IoT.nxt CEO steps down immediately IoT.nxt has announced that CEO Nico Steyn will step down from his position with immediate effect. Steyn co-founded the company with partners Terje Moen and Bertus Jacobs in late 2015 and will remain as a shareholder and serve on the board.
  5. J

    “Surprising” amount Vodacom paid for IoT.nxt

    “Surprising” amount Vodacom paid for IoT.nxt Vodacom acquired a 51% equity interest in IoT.nxt for a maximum consideration of R1.028 billion, of which R469 million was settled in cash, on 23 August 2019. The remainder of the money, outside of the R469 million in cash, is contingent on the...
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