Cambridge IT firm sells out to South Africans

Another UK firm succumbs to the lure of the Rand

Black economic empowerment group PanTech has joined the ever growing list of South African companies hot on the acquisition trail in the UK. PanTech yesterday bought Cambridge-based Cruisequest, which will complement the South African company's IT division, BizTech. The UK consultancy and IT services company will become PanTech’s European subsidiary. It will be the European funnel for PanTech's products and services, as well as continuing to service its own customers. Cruisequest's clients include Marshal of Cambridge Aerospace and Denel Aviation. Bought from Alan Luus, the deal is subject to SA Reserve Bank approval. PanTech is flowing with the tide of South African offshore acquisitions in recent months. In September Gloucestershire-based distributor RBR Networks was bought by Datatec and Surrey corporate reseller Bytes Technology Group was bought USKO in October. ®

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