SHOCKING DEAL UNVEILED: Sizwe IT Group Sells Controversial Cyber Security Company to Mustek for a Whopping R20 MILLION
In a bombshell move, Sizwe IT Group, a subsidiary of JSE-listed Ayo Technology Solutions, has sold its 70% stake in Cyberantix, a cyber security company, to ICT distributor Mustek for a measly R20 million.
The deal has left many questions unanswered, with some pointing to the potential conflict of interest between the directors involved. Amit Makan, Pride Guzha, and Shabana Ebrahim, all directors of Ayo, are also directors of Sizwe. Meanwhile, Shabana Ebrahim is also a director of Mustek, raising concerns about the role of the company in facilitating the deal.
Cyberantix, a level 2 B-BBEE company, provides critical cyber security services to businesses, government, and enterprises. The company’s modules include real-time monitoring, incident detection, and response, as well as advanced cyber defence solutions.
Some have questioned the motives behind the sale, with rumors circulating that the company is being sold off to secure a partnership with a leading cyber security firm. Sizwe has announced plans to allocate the proceeds from the deal towards other strategic priorities within the company, but it remains unclear what these priorities are.
Mustek, listed on the JSE, has evolved into an end-to-end ICT and sustainable technology solutions provider, but its involvement in this deal has sparked controversy.
As the tech world reacts to this shocking development, one thing is clear: the future of Cyberantix and its clients is uncertain. Will this sale lead to a loss of critical cyber security services and expertise in the market?
Stay tuned for further updates as this story continues to unfold.
