Click here to close now.

Welcome!

News Feed Item

Tel -Aviv listed Athlone (ATLN) joins the African digital revolution by acquiring Vaninga which has the exclusive license to build a Data Centre in Moçambique which will launch the initiative for the Continent

TORONTO AND TEL AVIV, March 13, 2014 /PRNewswire/ - Athlone has entered into a memorandum of agreement that involves the acquisition of a majority stake in a Moçambique registered telecommunications provider with the strategy to focus on establishing a network of data centres in strategic locations around Africa where it will apply its cutting edge data solutions, cloud and virtualization capacity. This provider called Vaninga has secured a national telecommunications licence which grants it the right to provide voice and data services, international gateway transit services, broadband services and the building of data centres. The licence includes spectrum for the provision of satellite links as well as the provision of terrestrial wireless services.

The African continent's newly laid undersea cable infrastructure has increased the data bandwidth by 400 fold and the opportunity for Athlone is to create and build regional data centres around Africa where the undersea cables land at the coast.

The team has chosen Moçambique because of the compelling opportunity in the large infrastructure projects being built, the continent's largest natural gas discovery and the list of international companies like Anadarko, ENI, RTZ, Halliburton and Statoil that are moving in. Moçambique is also proving to be progressive in its economic and regulatory outlook and is embracing new technologies and operators.

Africans have demonstrated their endless hunger for new technology via the mobile smartphone and the creation of innovative apps, like mobile money solutions which have been exploding at an exponential rate. The first data centre will be commissioned with the benefit of numerous contracts with health, central banking, education, defence and police departments and government ministries. The hosting will provide cloud services, voice and data Networks, wireless and sensitive data storage.

The well known and highly successful African team of Ross Macdonald and Gordon Edwards have formulated this well thought through strategy and will guide and manage Athlone in building out this massive endeavour.

Ross Macdonald was one of the founders of the MTN Group, a South Africa-based multibillion dollar mobile telecommunications conglomerate, and was responsible for building many of the initial operations for the MTN Group in Africa.

Gordon Edwards, who was one of the founders of DataTech, which is a global multibillion dollar IT company, has extensive experience in rolling out digital infrastructure in Africa for both banks as well as mobile networks.

The Chairman of Athlone, Stan Bharti said "we are very excited about joining forces with Edwards and Macdonald who have a demonstrable track record as we seek to strategically shift the company's focus into the ICT sector. We believe this brings an exciting new opportunity for investors on the Tel Aviv exchange."

Bharti continued, "Tel Aviv has rightfully gained a reputation as a global hub for new technologies and their commercialization.  It is rich with new ideas, innovations and solutions especially for companies like Vaninga that seek to bring the benefits of technology to the rapidly emerging market of Africa. In Israel, investors and technologists alike have shown time and again their appreciation and understanding of working in unconventional, developing environments, which will be of great benefit to this new venture."

Details of the Proposed Transaction

The memorandum of agreement provides that Athlone will issue 30,000,000 ordinary shares to certain shareholders of Vaninga in consideration for the purchase of 75% of the outstanding shares of Vaninga. In addition, Athlone will provide a working capital loan to Vaninga in the principal amount of US$2,000,000.

The issuance of Athlone shares to Vaninga shareholders is subject to negotiation and execution of a definitive share exchange agreement, and receipt of all necessary regulatory and shareholder approvals. The memorandum of agreement also provides for standard deal protections and exclusivity.

Toronto / Tel Aviv
13 March 201

To view a copy of the news release in Hebrew, please view PDF

This forward-looking information is based, among other things, expectations and assumptions of the Company regarding the current status, areas of operations and business environment as they are at the date of this document, the analysis of general information available to the Company at the date of this document and future developments and there is no certainty as to the willingness, integrity and / or realization. Realization of forward-looking information stated may be affected by factors that cannot be assessed in advance and are not controlled by the Company, including changes in market conditions and the environment, regulatory changes, changes in economic conditions and / or the realization of any of the risk factors of the Company as detailed in the Company which is posted Magna.

SOURCE Athlone Investments

PDF available at: http://stream1.newswire.ca/media/2014/03/13/20140313_C4982_DOC_EN_37897.pdf

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
Agile, which started in the development organization, has gradually expanded into other areas downstream - namely IT and Operations. Teams – then teams of teams – have streamlined processes, improved feedback loops and driven a much faster pace into IT departments which have had profound effects on the entire organization. In his session at DevOps Summit, Anders Wallgren, Chief Technology Officer of Electric Cloud, will discuss how DevOps and Continuous Delivery have emerged to help connect dev...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
Containers are changing the security landscape for software development and deployment. As with any security solutions, security approaches that work for developers, operations personnel and security professionals is a requirement. In his session at DevOps Summit, Kevin Gilpin, CTO and Co-Founder of Conjur, will discuss various security considerations for container-based infrastructure and related DevOps workflows.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world...
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Internet of Things (IoT) will be a hybrid ecosystem of diverse devices and sensors collaborating with operational and enterprise systems to create the next big application. In their session at @ThingsExpo, Bramh Gupta, founder and CEO of robomq.io, and Fred Yatzeck, principal architect leading product development at robomq.io, discussed how choosing the right middleware and integration strategy from the get-go will enable IoT solution developers to adapt and grow with the industry, while at th...
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...