he Competition Commission approved Infinite Partners' acquisition of Evotel, Linklayer, Magnolia Tree, and Net99, citing no competition or public interest concerns, boosting their ICT portfolio.
The Competition Commission has approved the proposed transaction whereby the Acquiring Firms intend to acquire Evotel, Linklayer, Magnolia Tree, and Net99 (collectively, the “Target Firms”), without conditions. The Acquiring Firms are controlled by Infinite Partners. Infinite Partners is ultimately controlled by a trust.
Infinite Partners, a private equity manager, manages funds such as Ethos Mid-Market Fund I. Infinite Partners, all the firms controlled or managed by it, all the firms controlling it, and all the firms controlled by the firms that control it, are collectively referred to as the “Acquiring Group”. The Acquiring Group is a private equity manager.
The funds managed by the Acquiring Group holds interests in various firms which are active in the following industries: Software development, finance (Fintech), the industrial sector (powered access equipment), technology and telecommunications, information and communication technology (ICT), clothing, and automotive aftermarket parts. The Target Firms are Evotel, Linklayer, Magnolia Tree, and Net99 (collectively, the Target Firms). The Target Firms do not control any firm/s.
The Target Firms are active in the provision of fibre infrastructure and related connectivity services in South Africa. The Commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market. The proposed transaction does not raise significant public interest concerns.
Source: Tech Africa News
