Convergence Partners acquires stake in ESET Southern Africa

09 Nov 2017

At the annual AfricaCom conference today, pan-African ICT investor, Convergence Partners and 4Di Group announced a recently concluded acquisition of a significant minority stake in ESET Southern Africa by Convergence Partners.  ESET Southern Africa is the local distributor and brand operator for leading global internet and endpoint security software vendor ESET, for the Southern African region.

“In the emerging native cloud environment, coupled with edge computing, data is becoming more vulnerable and we have witnessed increased vulnerability of public and private data repositories to cyber threats and attacks. Cyber security solutions like that offered by ESET are a critical line of defense. We are excited to partner with ESET on this journey,” said Andile Ngcaba, founder and Chairman of Convergence Partners.

The 4Di Group, which among its interests distributes ESET’s range of multi-award winning security software in South Africa and Namibia, has represented and operated the globally recognised brand in the region for 15 years as ESET Southern Africa.

“We are delighted to welcome Convergence Partners as key new shareholders to our business. We have known their team for some time and greatly admire their work, and look forward to collaborating further. Over the years ESET has established itself firmly as a major global contender in the endpoint security sector, the largest based in the European Union and one of the largest in the world. We have developed a significant market share in South Africa, with an emphasis on top quality customer service and channel support, ably underpinned by ESET’s strong brand and reputation for excellent products that consistently delight its customers,” said Justin Stanford, co-founder and MD of 4Di Group.  “ESET is now taking specific steps to continue its advance into the enterprise segment, with exciting new enterprise oriented products and services, which we expect to progress locally together with Convergence Partners.”

“We welcome Convergence Partners aboard ESET’s business in South Africa – a market which has long been our strongest presence on the African continent. We look forward to continue winning the trust of users with the best quality cyber-security protection and the help of both Convergence Partners and ESET Southern Africa to increase the market share of our products,” said Miroslav Mikus, Sales and Marketing Director for Europe, Middle East and Africa at ESET

Convergence Partners will also be involved in developing the opportunity for growth for ESET in numerous East African countries, with its acquisition of a stake in ESRO Ltd, the ESET distributor for the East African region.

“We look forward to working with Convergence Partners’ established African presence to further develop the ESET brand and distribution opportunities in East Africa. In particular, their portfolio of investments in telecommunications and value-added services offer an important distribution vector for us in these countries,“ said Alistair Freeman, Director of ESRO Ltd.

About Convergence Partners

Convergence Partners is a pan-African ICT–focused private equity player, delivering enhanced investment returns while underpinning Continental development. Convergence Partners has a proven track record of developing new investment opportunities as well as actively adding value to investments across the lifecycle of ICT assets. As impact investors, Convergence Partners brings its skills, experience and capital to accelerate ICT infrastructure development on the Continent, focusing on initiatives that increase availability of communications, broadband services and new technology offerings to the people of Africa. For more information, visit http://www.convergencepartners.com

About 4Di Group

The 4Di Group is a family office and diversified investment group headquartered in Cape Town, South Africa, with its principal interests in software, internet security and venture capital. The group was established by entrepreneurs Justin Stanford and Erik van Vlaanderen to manage their joint business partnerships and investments, and among its holdings owns ESET Southern Africa, the official brand operator and distributor for ESET in South Africa and Namibia. For more information, visit http://www.4digroup.com

About ESRO Ltd

ESRO Ltd is the official brand operator and distributor for ESET in the Sub-Saharan region, covering 17 countries including Kenya and the broader East African region, with an operational office in Nairobi under the brand ESET Kenya. For more information, visit http://www.eset.com/afr

About ESET

For 30 years, ESET® has been developing industry-leading IT security software and services for businesses and consumers worldwide. With solutions ranging from endpoint and mobile security, to encryption and two-factor authentication, ESET’s high-performing, easy-to-use products give consumers and businesses the peace of mind to enjoy the full potential of their technology. ESET unobtrusively protects and monitors 24/7, updating defenses in real-time to keep users safe and businesses running without interruption. Evolving threats require an evolving IT security company. Backed by R&D centers worldwide, ESET became the first IT security company to earn 100 Virus Bulletin VB100 awards, identifying every single “in-the-wild” malware without interruption since 2003. For more information, visit http://www.eset.com

 

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