|By PR Newswire||
|March 13, 2014 01:03 PM EDT||
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
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Oct. 1, 2016 03:00 AM EDT Reads: 1,962
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Oct. 1, 2016 03:00 AM EDT Reads: 2,428
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Oct. 1, 2016 02:30 AM EDT Reads: 2,714
Businesses are struggling to manage the information flow and interactions between all of these new devices and things jumping on their network, and the apps and IT systems they control. The data businesses gather is only helpful if they can do something with it. In his session at @ThingsExpo, Chris Witeck, Principal Technology Strategist at Citrix, will discuss how different the impact of IoT will be for large businesses, expanding how IoT will allow large organizations to make their legacy ap...
Oct. 1, 2016 02:30 AM EDT Reads: 645
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Oct. 1, 2016 02:30 AM EDT Reads: 519
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Oct. 1, 2016 02:30 AM EDT Reads: 3,023
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Oct. 1, 2016 02:15 AM EDT Reads: 515
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Oct. 1, 2016 02:15 AM EDT Reads: 757
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Oct. 1, 2016 02:15 AM EDT Reads: 5,454
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Oct. 1, 2016 02:15 AM EDT Reads: 2,122
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Oct. 1, 2016 01:45 AM EDT Reads: 509
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
Oct. 1, 2016 01:15 AM EDT Reads: 720
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 1, 2016 01:15 AM EDT Reads: 3,044
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software sec...
Oct. 1, 2016 12:15 AM EDT Reads: 1,428
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 11:30 PM EDT Reads: 773