South African technology firm Mustek has made a decisive move into the cybersecurity sector by purchasing a majority stake in CyberAntix, a company specializing in providing security operations centre-as-a-service (SOCaaS). Mustek has acquired a 70% share in CyberAntix from Sizwe Africa IT, a subsidiary indirectly owned by Ayo Technologies through Zaloserve, for R20 million (approximately $1.1 million). This transaction includes an R8 million ($457,820) equity exchange and an R12 million ($686,730) shareholder loan.
Sizwe Africa IT, which is 55% owned by Ayo, has opted to divest from CyberAntix as part of a strategic refocusing. Although recognizing CyberAntix’s potential for growth, Ayo acknowledges that the company’s expansion would necessitate substantial long-term investment. The divestiture allows Sizwe to redirect its efforts and resources towards other core business segments and to explore new cybersecurity partnerships by the end of 2024.
For Mustek, on the other hand, the acquisition of CyberAntix represents a valuable opportunity to bolster its recently established cloud, software, and security services divisions. Nicole Orr, Mustek’s Chief Marketing Officer, emphasized that the move is in line with the company’s strategy to enhance its cloud and software division and to strengthen its security services offerings.
Orr described the acquisition as an obvious choice for enriching Mustek’s product range, particularly in software and security, and noted that it would allow the company to provide a more extensive array of services to its resellers and end-users.
CyberAntix, co-founded by Morne Terblanche and Pierre Jacobs, has been in operation for four years and offers a suite of cybersecurity services, including threat detection, vulnerability scanning, incident response, and security awareness training. The company has established itself as a vital entity in the cybersecurity arena, delivering customized solutions that address specific security needs or complement clients’ existing infrastructures.
With the integration of CyberAntix’s services, Mustek is poised to enhance its capacity to offer bespoke security solutions to organizations throughout Africa. Terblanche has expressed a positive outlook on the future, disclosing that CyberAntix is pursuing partnerships with insurance firms to incorporate cybersecurity solutions into insurance offerings. This initiative could generate new revenue channels for Mustek while providing added value to customers.
Although CyberAntix will retain its operational independence post-acquisition, it will undergo a rebranding process to align more closely with the Mustek Group. This strategic acquisition positions Mustek to extend its reach in the African market and to meet the increasing demand for comprehensive security solutions across a variety of industries.
