African technology brand Altron recently underwent some considerable organizational changes. In addition to its overall corporate makeover, the enterprise also sold its stake in another telecommunications provider.
New divisions
For the first time in 30 years, Altron has rebranded its image following a reorganization that created two new divisions, reported BusinessDay. The Altron brand now consists of Altron TMT, which is responsible for the company’s Altech and Bytes businesses, and Altron Power, which houses Powertech. Altron TMT will also be in charge of the business’s telecommunications, multimedia and information technology for both sectors.
In addition to splitting the organization into two divisions, the group also created a new logo to signify the change. The new logo, which began appearing on Altron content at the beginning of the year, features blue and grey lines with red accents. Company representatives told the source that the new branding better showcases the company’s strategy after the reorganization. Altron CEO Robert Venter also said the new logo hints to the group’s history and highlights the overall objective of unification and internal and external signal growth.
“We are proud to be ahead of the curve in a rapidly evolving industry, and our new identity will now illustrate how far Altron has come in its history, covering nearly five decades, and where are heading in the future,” Venter said. “The new Altron identity and structure provides clarity and focus, makes portfolio navigation simpler, and creates opportunities to leverage existing brand strength and to share equity.”
Selling stake for boosted earnings
Among the recent cosmetic and internal changes the company has experienced, Altron executives have also been engaged in the stock market. ITWeb reported that the group sold its 8.6% stake in East African Liquid Telecommunications for $55 million. This move was part of an overall strategy to up Altron’s earnings and provide resources for future growth. The liquidation created $5 million in profits for the organization, which bought into Liquid for $50 million about one year ago.
During the decision-making process, executives noted that the asset was no longer core to the company, especially after the reorganization. Profits from the deal are earmarked for Altron’s net debt position, according to a company statement to shareholders.
At the time of purchase, the company said Liquid would boost Altron’s service footprint in Africa by creating the largest fiber to the tower network in the area. Venter said the selling of this stock does not signal an end to expansion in the region. Instead, the business will utilize an organic strategy for both Altech and Bytes to follow clients into the continent.
