Seacom’s acquisition of EOH Network Solutions and Hymax, divisions of iOCO and part of EOH Holdings, has been approved by South Africa’s Competition Commission.
“Following a brief and satisfactory application process, we are happy with the commission’s decision and are looking forward to the next stage of this process,” says Joe Vipond, Seacom group business development officer responsible for mergers and acquisitions. The Competition Commission approved the acquisition with no conditions and agreed with the Seacom and EOH-NS view that their consolidation would benefit their employees and customers. Considering the combined market share of the merged entity, the commission concluded that there was no significant market share that could result in anti-competitive behaviour.
“The next step is to finalise an organisational structure that makes the most of the acquisition, as well as helps to unlock Seacom’s ambitious growth strategy for South Africa and beyond,” he adds.