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
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
Kubernetes is an open source system for automating deployment, scaling, and management of containerized applications. Kubernetes was originally built by Google, leveraging years of experience with managing container workloads, and is now a Cloud Native Compute Foundation (CNCF) project. Kubernetes has been widely adopted by the community, supported on all major public and private cloud providers, and is gaining rapid adoption in enterprises. However, Kubernetes may seem intimidating and complex ...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
In his session at 21st Cloud Expo, Michael Burley, a Senior Business Development Executive in IT Services at NetApp, described how NetApp designed a three-year program of work to migrate 25PB of a major telco's enterprise data to a new STaaS platform, and then secured a long-term contract to manage and operate the platform. This significant program blended the best of NetApp’s solutions and services capabilities to enable this telco’s successful adoption of private cloud storage and launching ...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone in...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...