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South Africa’s Mustek Acquires Majority Stake in CyberAntix

October 11, 2024

South Africa’s Mustek acquires majority stake in CyberAntix, a security operations centre-as-a-service provider, from Sizwe Africa IT.

The R20 million ($1.1 million) deal, which includes an R8 million ($457,820) transfer of shares and a R12 million ($686,730) shareholder loan.

Sizwe Africa IT, owned indirectly by Ayo Technologies through Zaloserve, made the sale as part of a shift in its strategic priorities. The remaining 30% of CyberAntix will continue to be held by NIL Data Africa, a multinational IT service provider.

Ayo, which holds a 55% stake in Sizwe, stated that while CyberAntix holds growth potential, its development would require additional investments over the long term.

The sale, Ayo noted, allows Sizwe to reallocate resources to focus on other key business areas, as it seeks new partnerships in cybersecurity by the end of 2024.

In contrast, Mustek sees the acquisition as an opportunity to expand its newly formed cloud, software, and security services divisions.

Nicole Orr, Mustek’s Chief Marketing Officer, highlighted that the acquisition aligns with the company’s focus on expanding its newly formed cloud and software division, while also enhancing its security services business.

Orr noted, “It was really a no-brainer in terms of expanding Mustek’s product portfolio, specifically on the software and security side of the business.” She highlighted that the acquisition would enable Mustek to offer a more comprehensive range of services to its resellers and customers.

CyberAntix, co-founded by Morne Terblanche (General Manager) and Pierre Jacobs (Head of Operations and Compliance), has been operational for four years, providing services such as threat detection, vulnerability scanning, incident response, and security awareness training.

Mustek will be positioned as a critical player

The company’s offerings have positioned it as a critical player in the cybersecurity space, capable of providing tailored solutions to plug security gaps or integrate with clients’ existing systems.

Integrating CyberAntix’s services will enhance Mustek’s ability to provide tailored security solutions to organisations across Africa.

Terblanche expressed optimism about the future, revealing that CyberAntix is exploring partnerships with insurance companies to embed cybersecurity solutions into insurance packages, which could unlock new revenue streams for Mustek while adding value for customers.

Despite the acquisition, CyberAntix will continue to operate independently but will undergo rebranding to better integrate into the Mustek Group.

This strategic move will enable Mustek to expand its footprint in the African market while addressing the rising demand for security solutions across various industries.

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