Barclays Africa Group is in talks to buy the automatic teller machine (ATM) business of Allied Electronics (Altron)-owned Bytes Technology, according to a report.
Business Day reports this could be the third large acquisition made by the company in the past two years.
The company has recently spent over ZAR28 billion (US$2.6 billion) on acquisitions, though the value of the latest deal has not yet been disclosed.
The transaction was filed with the Competition Commission of South Africa last month and is considered a large acquisition.
“Bytes is a group of companies. Within this group of companies we are always looking at which businesses are core and which are not,” Craig Venter, Atron group executive, is quoted as saying when questioned on whether Bytes is for sale.
HumanIPO reported last month Bytes had bought back 27 per cent of its shareholding from a consortium headed by Kagiso Strategic Investments (KSI).
The transaction, which is valued at ZAR669 million (US$62 million), is due to go through on June 30.
