Investors call off sale of Vox Telecom, signalling confidence in the sector
Vox Telecom late last week confirmed that investors have taken the local ICT company off the market, having completed an exploratory process that started in July 2014.
“The decision by our investors to re-invest in our business is a strong signal to the market, that our strategy for 2015 and beyond, coupled with a thriving ICT sector, is sound,” says Jacques du Toit, CEO of Vox Telecom.
Du Toit confirms that a number of interactions took place during the exploratory process, both with interested local and international parties.
“The objective of these interactions was to get a view of the options available for maximising the growth of Vox Telecom. The final decision had to provide a foundation for the business to capitalise on dynamic changes in the ICT landscape.”
The decision to take Vox Telecom off the market, and to invest in the future of the company as a standalone business was based both on the future strategy that the Vox Telecom EXCO presented to the investors in late 2014, as well as the faith that the current investors have in the economy and particularly the ICT sector.
Adds du Toit: “We see this decision as a clear signal to the market, of the investors’ belief in the strength of our brand, and the human capital within our organisation, to deliver on the long term strategy, which will focus on entering new markets, an aggressive customer acquisition drive and a commitment to lowering costs to service customers in a very competitive market.”
“It is business as usual at Vox Telecom and the finalisation of this process and the decision of the investors to remain onboard, has brought renewed energy to the team. We are excited about what the future of the company looks like,” concludes du Toit.