Tuesday, November 21, 2017 UTC
News > Private Equity > Deals

Convergence acquires stake in ESET Southern Africa

Anna Lyudvig
Nov. 9, 2017, 10:30 p.m.
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Word count: 450

Convergence Partners has recently acquired a significant minority stake in ESET Southern Africa, a local distributor and brand operator for leading global internet and endpoint security software vendor ESET.

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Convergence Partners has recently acquired a significant minority stake in ESET Southern Africa, a local distributor and brand operator for leading global internet and endpoint security software vendor ESET.

“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.

For 30 years, ESET has been developing IT security software and services for businesses and consumers worldwide.
 
The 4Di Group, which among its interests distributes ESET’s range of 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.

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.

Justin Stanford, co-founder and MD of 4Di Group, said: “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,” he said.

“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,” he added.
 
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, the ESET distributor for the East African region.

ESRO 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.
 
“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 .
 

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