THE Amber Group has acquired a 100 per cent stake in South Africa-based Internet of Things (IoT) hardware manufacturer Intelli-Business Solutions (IBS) Limited, and says it will rename the entity A mber IoT.
The cost of the transaction was not disclosed.
However, Amber said the acquisition will strengthen its footing as a global technology company, as it now has the capacity to add to its offering the design, development, and manufacture of its own electronic hardware. This serves to complement its software development expertise and solutions.
For the last 13 years, IBS has been a leading developer of IoT solutions, having brought to market many end-to-end hardware products developed for banking, insurance and security industries in South Africa.
IBS also specialises in the manufacturing of hardware devices for the Sigfox IoT Zero-G network. Sigfox is a revolutionary technology that allows communication from IoT devices to its end-user, without relying on traditional mobile networks.
Michael McNaughton, managing director of the Amber Group, said, “With this acquisition the Amber Group can now provide innovative hardware solutions to our corporate clients. This development also combines our proven software expertise and capacity with IBS's hardware capability, to strengthen our ability to deliver on end-to-end projects for our clients and develop our own groundbreaking solutions. With the rapid changes in technology, it was only a matter of time before we added IoT manufacturing to our range of services and we are excited for what lies ahead for Amber and our various stakeholders.”
Frikkie Geyser, managing director of Amber IoT and former managing director of IBS, said, “This is an exciting time for our company, as the acquisition by Amber now positions us to really accelerate our business innovation, and become an even bigger player on a global scale, that can deliver on all-inclusive technology solutions. We believe this significant expansion is a game-changer, and we look forward to adding more value to our clients.
The Amber Group is one of the largest technology conglomerates in the region and has a presence in 30 markets.