Altron sells its last non-core asset

Altron announced it has received approval from the Competition Commission to sell Altech UEC, which manufactured set-top boxes.

The company sold the unit to Skyblu Technologies.

“The approval marks the conclusion of Altron’s 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,” Altron said.

“I 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,” said Altron CEO Mteto Nyati.

“We 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.”

CBI-Telecom Cable, in which Altron has a joint venture with Reunert, is currently still held for sale.

The company said its goal remains that of consistently delivering double-digit growth.

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Altron sells its last non-core asset