Convergence Partners’ Digital Infrastructure Fund (CPDIF) has reached a definitive agreement with Alviva Holdings to acquire the entire Datacentrix Group. Datacentrix, a 25-year-old company, specializes in providing ICT integration services and solutions to major corporations in South Africa. Alviva is divesting from Datacentrix after delisting from the JSE in early 2023 to focus on its core operations in hardware distribution.
The transaction aligns with CPDIF’s strategy of investing in high-growth companies with strong management teams and deep customer relationships. Datacentrix is seen as well-positioned to capture growth in the resilient IT market, which has outpaced the country’s GDP growth.
The terms of the transaction were not disclosed, but Convergence Partners emphasized that Datacentrix would continue to operate independently with no envisaged changes in operations or staff. The acquisition is expected to close in the first quarter of 2024, subject to regulatory approvals.
Convergence Partners Chairman Andile Ngcaba highlighted the synergy between Datacentrix’s capabilities and CPDIF’s extensive experience in private equity, aiming to deliver unparalleled value to clients across Sub-Saharan Africa, North Africa, and the Middle East. Datacentrix Group CEO Ahmed Mohamed expressed excitement about joining forces with Convergence Partners, leveraging the broader group’s capabilities and expanding into the rest of Africa.