Grintek buys into Expertron, the Innovation Hub's first tenant company
Grintek, a leading empowerment electronics and telecommunications solutions company, announced recently that it has acquired 30 percent of Expertron, one of the first companies in The Innovation Hub's pilot Business Incubator. The Innovation Hub was instrumental in introducing Expertron, a high-technology start up company, to Grintek.
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"One of the important advantages of being part of The Innovation Hub is being in close proximity to other entrepreneurs. Sharing ideas and learning from the experiences of like-minded people who are facing similar challenges has been of great benefit to us," according to Expertron founding members Dr Walter Smuts and Mr Gavin Ehlers.
The transaction provides Grintek with an option to own a controlling stake over a period of three years. The company has already made its mark as a major player in the defence, electronics and telecommunication industries both locally and abroad.
From Left to right: Victor Matooane (The Innovation Hub), Zoli Kunene (Grintek), Walter Smuts (Expertron), Standing: Gavin Ehlers (Expertron).
Grintek chairperson Zoli Kunene views the partnership as an opportunity to access new markets through Expertron's data communications security products, a key specialised area being brought into Grintek's diverse business. Kunene said the transaction is in line with the company's business strategy geared towards investing in software solution enterprises that have developed their own intellectual property in specialised applications.
He said the partnership will also consolidate the company's global business strategy aimed at exporting these solutions to penetrate the international market place. "We have made great strides globally through our defence products and we will expand our international venture with other products including those resulting from this partnership," he explained.
Expertron's director, Dr Walter Smuts says the deal will give them access to additional business links and markets. "This could open future opportunities for joint projects that could enhance synergy between Grintek and Expertron. Our association with a leading company will also enable Expertron to gain entry and exposure in the market place, something not often easy for start up companies to achieve," said Smuts.
Expertron is a small team of highly trained development engineers who caught the market's attention through its capacity to specify design and develop innovative products. The company's first completed internet based security product, Cell-ID is already drawing corporate attention for its user- friendly authentication technology.
Expertron is the first high-tech start up company from The Innovation Hub's pilot Business Incubator to gain such significant exposure from the market. The Incubator supports the growth of innovative technology start up companies in an environment that provides mentorship and assistance with all business-related matters.
Dr Neville Comins, CEO of The Innovation Hub, says Experton's success so soon after The Innovation Hub started the implementation of its pilot activities proves that the Hub is on the right track.
"The Innovation Hub team salutes Expertron and Grintek for this step. It shows, by example, the potential that exists in our emerging knowledge-intensive companies, but it needs support and nurturing in the formative stages. We are strengthened in our resolve to provide an environment and a network where in such companies can grow and prosper," said Comins.
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