Allied Electronics Corporation (Altron) said that it had acquired digital trust services and cyber information security solutions company Lawtrust from Etion for R245 million, to position Altron as a one-stop shop for all that it digital and information security.
However, the acquisition was still subject to Competition Commission approval.
Altron chief executive Mteto Nyati said security was one of their key growth areas, in addition to Cloud, Data and Automation.
“What differentiates Lawtrust is the level of intellectual property they own and an annuity base of 70 percent. These are key characteristics of the Altron 2.0 strategy,” Nyati said.
The acquisition of Lawtrust follows that of Ubusha Technologies in 2019 and Nyati said the acquisition has formed the foundation of Altron Security.
“It has proven to be a great acquisition as customers accelerated their digital transformation due to Covid-19.
“The acquisition of Lawtrust positions Altron Security as a one-stop shop for all that is digital and information security,” he said.
Lawtrust currently provides services to more than 500 customers in the private and public sectors and is considered one of the leading cyber and information security companies in South Africa.
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