MWEB, an ISP owned by Naspers has been fully acquired by Internet Solutions. MWEB is one of South Africa’s largest Internet service provider.
Naspers disclosed that Internet Solutions is making the acquisition of MWEB Connect (Pty) Ltd., through its parent company, Dimension Data (Pty) Ltd.
The bid to buy MWEB started last year when Internet Solutions had entered an agreement to acquire the business of MWEB Connect.
Managing Director of IS, Saki Missaikos says: “Quality connectivity in a truly digital world is key to delivering excellent customer experience. Our community is the African community, and our objective is to ensure that this community is connected to the world. Both companies have a common vision of providing seamless connectivity for the African consumer at home, on the move, in the office, and in public spaces, and we look forward to welcoming MWEB employees to IS, and the broader Dimension Data family.”
This transaction is in line with the IS approach of acquiring successful companies that bring with them market share, specialisation but also alignment with the existing culture and people of IS.
“Consider that some consumers have faster fibre connections at home than many companies, and other consumers have no at-home connectivity but actively make use of mobile, free and premium public Wi-Fi. Some are not content with a modest broadband connection, and some South Africans still have no access to the Internet at all,” he says.
“We cannot hope to seamlessly connect the country by compartmentalising technology or demand for connectivity by segment, and we cannot offer one-size-fits-all products and services.”
“Instead, our technology and engineering expertise, next-generation network and data-centre infrastructure is the backbone of current and future service offerings tailored to each segment – SME, enterprise, wholesale, and now consumer as well.”
With all preconditions of the transaction now met, work begins on integrating the two companies, a process that includes providing MWEB with access to new services and talent from across the IS ecosystem.
Missaikos says that client experience is a priority, as is minimal disruption and inconvenience to employees, suppliers, and clients.
“It’s business as usual until it gets even better,” he says. “We look forward to introducing new consumer products and experiences to the industry and public in the very near future.”
This is another successful exit by Naspers after it sold its stake in Souq, the largest eCommerce company in the Middle East to Amazon in March.