4sight Holdings acquires majority stake in Simulation Engineering Technologies
In a deal valued at more than R50 million, Pretoria-based technology solutions firm 4Sight Holdings has acquired a majority stake in modelling expert firm Simulation Engineering Technologies (SET). The acquisition remains subject to conditions that must be met before 15th April.
Since it was listed on the Johannesburg Stock Exchange (JSE) last year, technology consulting firm 4Sight Holdings has been on an aggressive expansion drive, in light of the South African economy's new focus on digital innovation. In October last year, the firm acquired engineering technology firm Blue ESP for nearly R55 million, following which it acquired Foursight South Africa earlier this year for an impressive sum of just over R85 million.
4Sight Holdings classifies itself as an investment firm, which specialises in industry 4.0 and digital advancement. The firm acquires tech-based entrepreneurial ventures, and facilitates growth and innovation through the exchange of information in this large network of technology experts. The firm is headquartered in Ebene, Mauritius, and has another centre of operations in Pretoria.
In terms of service offerings, 4Sight places emphasis on further improving existing advancements in technology such as artificial intelligence, machine learning, blockchain, cloud-based analytics, real-time data engines and a number of others, which it leverages to serve clients in the telecommunications, media, property, mining and manufacturing sectors.
4Sight’s services are carried out through its network of subsidiaries, which has now been bolstered with yet another acquisition. The firm has acquired 70% of the shares in South African firm SET for a sum of R53.5 million.
Founded in 2004, SET is a consulting firm that specialises in the building of realistic discrete-event computer simulation models of complex systems in a wide variety of sectors, including mining, rail, logistics, manufacturing, and a number of service-oriented industries in South Africa.
Consistent with the nature of their services, the team at SET is an amalgamation of industrial engineers and business improvement specialists, who collaborate to create high-value simulations. The upper rungs of the SET team have been engaged in the simulation business since 1995, and hold cumulative experience of more than 50 years.
The firm also delves into other consulting services such as production scheduling, warehouse slotting optimisation, and capacity planning, all of which 4Sight will now hope to leverage for its revamped operations. The acquisition will be lucrative for 4Sight’s South Africa presence, not only because of SET’s presence in Cape Town and Centurion, but also because of its expertise in mining; an industry in dire need of technological support.
“The acquisition is in line with 4Sight Holdings’ acquisitive and organic growth strategy of acquiring industry 4.0 companies and provides the 4Sight Holdings group with deep skills in data science and real-time decision-making solutions, with large customer bases internationally and in South Africa, and the ability to enhance solutions across customers and industries.”
