Privately held XON, an ICT solutions company, has concluded a BEE deal with Kapela Holdings, which gains a 40% stake in XON for an undisclosed cash amount.
In terms of the deal Kapela Holdings executive director Israel Skosana becomes chairman of the board of XON and Kapela Holdings executive director Makhup Nyama becomes an XON board member and assumes executive responsibilities at XON.
“After an 18-month process we selected Kapela Holdings as our BEE partner because the company has the right credentials and the executive team has exemplary business experience, in the right sectors, to attract the continued growth we want,” says Carel Coetzee, CEO of XON. “They have an enormous amount of experience in growing large, listed entities and we need that calibre of support to help us maintain and exceed the significant growth we have experienced in the past five years.”
“We have a hands-on approach to business,” says Skosana, “and we believe XON has the necessary infrastructure, skills and expertise to be a significant player in the ICT industry.”
For the past five years XON has invested and matured its infrastructure, partnerships and skills that boosted service delivery. XON designs, builds, and operates high-performance networks for customers, and customers outsource the running management of their network and cloud infrastructure to XON.
XON has traditionally served the retail, financial services, telecommunications, and government sectors. XON has a number of key industry technology partnerships including Juniper Networks, Allot, Symantec, Samsung, Pricer, APC by Schneider Electric, ADVA and others.
The company also maintains a national support and maintenance footprint with branches in Namibia and Kenya with more on the cards in the next six months. This footprint is backed up by the services offered through its network operations centre and security operations centre in Midrand.
Kapela Holdings is a majority black-owned diversified investments holding company.
“We aim to be a value investor,” says Skosana, “to remain invested, add value, and contribute our executive management experience, network of both public and private sector relationships, access to capital, and contribute to XON’s broad-based black economic empowerment rating.”
By Angela Meadon