Huge Group has acquired a shareholding in Pansmart that will give it control of an authorised distributor of voice, video and CCTV products, with full technical and sales competency.
The acquisition will take effect on 13 May 2019. While the company will retain its name, it will incorporate Huge Group branding alongside its current well-established branding.
“We have been discussing a stronger business relationship between Huge Group and the MIA Group for a long time and a partnership between our respective groups based on a transaction involving Pansmart is a logical first step in furthering our relationship” says Bryan Driessel, the Managing Director of the MIA Group’s holding company, MIA Telecoms. “This transaction furthers the ‘Growing Huge Strategy’ by growing Huge Telecom’s real estate of customers” says James Herbst, the CEO of Huge Group.
Pansmart is a strong new challenger in the South African PABX market. “Its range of hybrid PABX’s, which include embedded analogue voice ports across the range, allow for a simple and cost effective PABX and GSM Voice solution. PAnsmart’s PABX and Huge Telecom’s GSM-based, Full Suite Telephony is a powerful connectivity combination”, says Rob Burger, the Managing Director of Huge Telecom.
“In the last three years, Huge Distribution has focussed on growing its national footprint of channel partners, as well growing its base of installed PABXs. Having Huge Group and Huge Telecom as partners provides an added incentive for Pansmart to accelerate its channel growth by leveraging the synergy between its PABX’s and the voice connectivity offering of our new sister company, Huge Telecom” says Louis Fourie, the Managing Director of Pansmart.
Pansmart is Huge Group’s second deal this year, which is helping to give Huge Group a strong start to 2019.
About Huge Group Limited:
Huge Group is an investment holding company, which is listed on the Main Board of the JSE Limited. The Group includes, amongst others:
- Wholly-owned subsidiary Huge Connect – a company that delivers standalone fixed wireless telecommunications solutions to the SME market; Huge Connect has over 30 000 customers; and
- Majority-owned subsidiary Huge Networks – a network service provider and data communications company that markets and sells a variety of products and services including Internet data services, managed network solutions, branch connectivity, hosting services and website and system development; Huge Networks has over 2600 customers; and
- Wholly-owned subsidiary Huge Telecom – a company that delivers fully managed fixed wireless telecommunications services to corporate clients, through a growing network of over 700 Business Partners; Huge Telecom has over 18 000 customers. Huge Group has as a real estate of circa 45 000 SME customers and over 120 000 connected devices, providing it with one of the largest platforms for IoT in Southern Africa. In addition, this platform optimally positions Huge Group to conceive, develop and distribute a suite of Fintech offerings.
Huge Group trades under the share code HUG. Further information is available on the company’s website – www.hugegroup.com.
Further Information:
Karen Robinson l Company Secretary l 010 615 0902