ASI takes majority stake in ICT provider Conekt, renamed ASI Connect

What's the deal? ASI Financial ServicesDealroom has a profile for this one. Try Dealroom → has acquired a majority stake in Conekt GroupDealroom has a profile for this one. Try Dealroom →, a Johannesburg-based managed information and communications technology (ICT) provider, which will now trade as ASI ConnectDealroom has a profile for this one. Try Dealroom →. The deal value was undisclosed.

What each side brings: Conekt Group carries more than 30 years of enterprise managed services experience. ASI, a financial services and investment firm, adds capital, a national platform, and transformation credentials.

What's the endgame? The partnership pairs Conekt's technical expertise with ASI's resources and reach, positioning the renamed business to scale its managed ICT services.

The signal: The tie-up shows investment firms buying into established managed ICT providers to combine capital with long-run technical know-how — a route to consolidation in South Africa's enterprise services market.

Read more: theprofiler.co.za

Image credit: cbowns