Reunert buys cryptology firm
Saturday, 1 October 2016
Reunert subsidiary, Reunert Applied Electronic Holdings (Pty) Ltd, has purchased 100% of Nanoteq (Pty) Ltd from Business Connexion and minority shareholders for an undisclosed amount. The Competition Commission confirmed on 20 September 2016 that the parties have complied with the imposed conditions and may accordingly proceed with implementation of the transaction. The integration of Nanoteq into Reunert will occur with the new financial year starting 1 October 2016.
Nanoteq develops advanced cryptographic technology for its clients that include various government agencies and the military sector.
"Nanoteq fits well strategically and will complement our secure tactical radio communications company, Reutech Communications," says Reunert CEO Alan Dickson. "It has a diverse customer base, including recurring and export business, with an exciting growth trajectory."
Based in Centurion, Nanoteq was established in 1988 with the core focus of developing trusted high-level cryptographic technology that can be used in various products and communications solutions. Its core business value offered includes protecting client's confidential and sensitive information and electronic transactions.
"Through capitalising on Reutech's and Reunert's international presence, our joint efforts will be instrumental in further unlocking the value of Nanoteq in the international market," comments Gerrie Venter, CEO of Nanoteq.