Etion secures new equity partner

Clive Douglas Investments-represented Conexus Capital Growth Fund has secured a R27-million stake in revamped, diversified digital technology solutions provider Etion.

The new equity partner had been issued 70-million shares in Etion at 39c apiece, representing 14.16% of the issued share capital of Etion, prior to the general issue, and 12.4% after the issue of the shares.

“We consider the new investment from Conexus to be a firm signal of support for Etion’s transition to date and its growth plans for the future,” said Etion group CEO Teddy Daka.

Etion has been undergoing a significant rebranding and repositioning of its operational business divisions to be more operationally flexible and responsive to rapidly changing client needs.

The investment by Douglas Investments is intended to strengthen Etion’s thrust into cutting-edge digital security innovation following the June acquisition of cybersecurity specialist LAWTrust, which has since been incorporated into the Etion Secure operating unit.

“Each of the underlying businesses in the Etion group have significant organic growth opportunities that are at various stages of development and should come on book in the next two to four years,” said Clive Douglas Investments CEO Clive Douglas, adding that Etion had acquired several “interesting” businesses led by seasoned and successful entrepreneurs.

Etion is focusing on integrating the four solutions-based business units, namely Create, Digitise, Connect and Secure, that drive the horizontally integrated Etion value chain, as well as entrench itself with its customers by offering bespoke products and high levels of service.

Conexus will be appointing a representative to the board of directors, including observer rights to ensure active management of the investment on behalf of its investors, Douglas concluded.

Originally Published on: www.iitpsa.org.za

By |2018-11-19T18:59:11+00:00November 19th, 2018|News Coverage|Comments Off on Etion secures new equity partner

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