In a move destined to shake up the local IT channel, Partner Tech Corporation – a subsidiary of $25-billion conglomerate and Taiwanese-listed Qisda Group – has bought specialist ICT distributor Corex.
Although financial details of the transaction have not been revealed, it is believed to be a bigger deal than when the channel was last rocked with the R170-million acquisition of Axiz by Pinnacle in 2010.
Under the terms of the purchase, Partner Tech will own 100% of Corex which will now become a fully-fledged subsidiary.
Mark Lu, founder and CEO of Corex, will continue in his role on a five-year management agreement. Just months ago, Lu sold his personal shareholding in Partner Tech Africa back to the parent company.
Partner Tech Africa will be amalgamated with the current Corex operations.
“Partner Tech is extremely excited to have Corex as part of our family,” says Peter Chen, chairman of Partner Tech. “This strategic acquisition is another step in our journey to build on our foundation as a major intelligent store technology player in South Africa and presents a powerful opportunity for Partner Tech to significantly expand our presence in the region. Together, we will be able to seize any business opportunities that present themselves in the coming boom within the IoT and smart retailing sectors.”
Lu says the acquisition will allow Corex to leverage the vast array of resources within the group in its quest to be one of the leading specialised ICT distributors in the region and on the continent.
“Corex echoes Partner Tech’s sentiment and we are excited to be a part of the Partner Tech family,” Lu says. “We look forward to an exciting future of growth and prosperity.
“The combination of the current Corex expertise, backed by the might of the Partner Tech and Qisda groups, will undoubtedly fast-track the road to fulfilling our vision in South Africa and across the continent. We look forward to the prosperity that this new chapter will bring.”
Operating since 1990, Partner Tech is one of the world’s leading developers and producers of POS solutions, POS peripherals and mobile solutions. With its comprehensive variety of tools, from mobile ordering systems to compact all-in-one systems, the company is becoming an Intelligent Store Partner in today’s globalising world.
In cooperation with Qisda Group, Partner Tech has extended its product range with cutting-edge technology such as digital signage, in-store media, process optimisation and convenience store systems, aiming to be the best-practice provider for customers in retail, hospitality, and specialist stores.
With more than 1-million installations worldwide, Partner Tech is headquartered in Taiwan.
Qisda is an ODM/OEM service provider of electronic products for consumer, commercial, medical, and industrial applications. Its product offering ranges from LCD monitors, All-in-One PCs, digital signage and professional displays, projectors, scanners, industrial automation products (POS, mobile POS, AGV , barcode readers , label printers), 4G smartphones, medical gateways, medical imaging & telecare, automobile infotainment devices, e-readers, tablets and robotics.
Headquartered in Taiwan, Qisda has R&D centres located in Taiwan and China, and global manufacturing sites in China, Mexico, and Taiwan.