Equiteq provides advisory services to EOH on their acquisition of Singapore-based IT Services firm AFON
Equiteq, the B2B Services sector M&A specialist, is pleased to announce that it provided advisory services to EOH, Africa’s largest technology and services provider, listed on the Johannesburg Stock Exchange, for their recent acquisition of Singapore-based AFON Pte Ltd.
AFON is a well-established IT Services firm with expertise in delivering ERP solutions. Established in 1999, they provide ERP solutions based on a select group of platforms from partners such as SAP and Microsoft. AFON has won 33 awards and milestones, such as SAP B1 Partner of the Year (7-time winner), Microsoft Partner of the Year (twice), and President’s Club – MS Dynamics (twice).
Ebrahim Laher, CEO of EOH International, points out: "This acquisition is the first one for EOH in South-East Asia, and is testament to EOH’s intention to expand internationally in this part of the world. With its excellent management and strong position in Singapore as the hub of South-East Asia and gateway to Asia-Pacific, AFON is a great bridgehead in the region.” Laher adds: “I am delighted with the approach and support provided by Equiteq throughout the process. Their knowledge and experience has helped us secure a deal that supports our development plans.”
Talking about the acquisition, Bernard Ho, Founder and Managing Director of AFON, remarks: “We are delighted to be joining a dynamic, forward-looking and entrepreneurial group such as EOH. Not only will this move put us in a position to better serve our existing clients and work on a larger scale with our business partners, but it will also provide a broader development platform for AFON and all its managers and consultants.”
Fanie Botha, Director of South- East Asia for EOH International, adds: “I am excited at the prospect of working with Bernard and his team to grow EOH in the region.”
Jean-Louis Michelet, Managing Director of Equiteq Asia-Pacific, commented: “The acquisition of AFON is a major strategic step for EOH and we are proud to have assisted them by securing a deal that fulfils both parties’ development plans.”
To see all of our deals, please click here.