by TINTSWALO BALOYI
JOHANNESBURG – ALTRON, the Johannesburg Stock Exchange-listed company, has acquired digital signatures services firm, Lawtrust, in a deal worth R245 million (US$17 million).
The acquisition from Etion is subject to Competition Commission approval
In 2019, Altron acquired Ubusha Technologies, a leader in identity management, which 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,” said Altron Group Chief Executive, Mteto Nyati.
Lawtrust is a digital trust services and cyber information security solutions company which provides solutions used to verify the authenticity of digital identities and counterparty systems in transactions, data encryption, digital signatures as well as biometrics.
Lawtrust currently provides services to over 500 customers in the private and public sectors and is considered one of the leading cyber and information security companies in South Africa.
“Security is one of our key growth areas, in addition to Cloud, Data and Automation,” Nyati said.
“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.”
Lawtrust was the first accredited authentication service provider in South Africa.
– CAJ News