(Ecofin Agency) - Alaris Holdings, a JSE-listed investment group that targets radiofrequency tech companies, acquired the British firm Linwave for about £3 million ($4.1 million). The transaction was carried out through Alaris Investment Holdings UK Limited, the British arm of Alaris.
“Linwave becoming part of the ALH Group of companies, will allow us to become more system orientated. This enables us to strategically move up vertically in the value chain,” said Alaris Holdings Group CEO, Juergen Dresel.
Ian Duke, Managing Director of Linwave Technologies, for his part, said, “Linwave is proud to be able to add value to the already advanced Alaris products through our intellectual property.”
This acquisition comes after a rather difficult fiscal year for Alaris Holdings. In the year ending June 2020, the South African group's production and supply chains were sharply affected by covid-19.
The new deal will allow Alaris to achieve a key long-term strategic objective, which seeks to strengthen its capabilities in microwave radiofrequency technology to help grow its core business and evolve into more advanced antenna system solutions.