JSE-listed technology company Altron has sold Altron Document Solutions and its Eastern Cape subsidiary Genbiz as a going concern to Xerotech. Xerotech is a subsidiary of Bi-Africa Investment Holdings.
Altron Group Chief Finance Officer Nicholas Bofilatos said, “Altron is selling this business so we can focus on the core ICT solutions and services which are at the heart of our new Altron 2.0 strategy.”
Bofilatos said money from the sale would be used to pay down Altron’s debt.
Altron Document Solutions provides office printer technology solutions and services in South Africa and sub-Saharan Africa. It is currently Xerox’s strategic partner in these markets, having distributed and serviced Xerox office automation and high-volume production products and solutions for more than 20 years.
The deal is subject to regulatory approvals.