By Loni Prinsloo.
Photo Credit: Devin Lester.
Billionaire-backed DN Invest will spend R2.1 billion ($130 million) acquiring stakes in technology companies to double the size of the group in the next three years, Chief Executive Officer Ryan Noach said.
The Johannesburg-based investment firm that counts billionaire Stephen Saad and other prominent South African businessmen like Mike Teke among its owners, currently generates more than R12 billion in revenue. Most of its deals are funded from the group’s own resources.
DNI will invest in four assets: KnowRoaming, Mission Mobile, Frogfoot Networks and Vox Telecom SA, Noach said in an interview. That will add to the 25 businesses DNI already has in its portfolio and help the company diversify across the communications-technology industry, he said.
“There is more coming,” Noach said.
While DNI generates about 85% of its revenue in South Africa, it has a presence in more than 35 countries, including other African markets, Brazil, Pakistan and Australia. Its digital ecosystems cluster — the non-distribution technology businesses — generates about 65% of earnings outside South Africa.
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