DFA Investor New GX Capital Invests In Global Technology Services Firm In2IT Technologies

In2IT Technologies, a global technology services firm has diluted 24.5 percent stake of its South African arm to New GX Capital, an established black-owned and controlled investment and advisory company.

has invested in a 24.5% stake in has boosted In2IT’s Broad-Based Black Economic Empowerment (BBEEE) rating to a Level 2 status and is providing cross-selling synergies and opportunities to both companies.

In2IT Technologies is headquatered in India with presence in Africa, USA and APAC region recognised for its future edge technology expertise around cloud, mobility, analytics and remote infrastructure management.

Established in 2005, New GX Capital strategically invests in companies and delivers the critical value of business acumen, financial expertise and industry knowledge. New GX Capital identified a need to bolster its investments in the Telecoms Media Technology (TMT) sector and In2IT Technologies provided the perfect ‘fit’.

Taking an active role in these companies, New GX Capital is established in the ‘core’ telecom sector with its investment in Dark Fibre Africa and Dartcom, yet they needed a company to provide holisitic technology services to customers in South Africa. component creating a link between the corporate enterprise and communications network. T Technologies bridges that gap and enables them to extract further value from these businesses.In2IT through it’s software services and infrastructure services arm provides services to many of top 100 companies in South Africa.

Says Khudusela Pitje, CEO at New GX Capital, “With our new acquisitions, we aim to change the markets we enter and technology is a key enabler of this goal. In2IT Technologies has a great understanding of how disruptive technologies can drive businesses into a new era, allowing them to change the way they fundamentally operate and interact with their customers.”

“Furthermore, In2IT is aligned with our philosophy of investing in skills and job creation in the South African market. It is important for us to share these goals and philosophies, ensuring we are aligned on a business level as well jointly committing to upliftment and economic growth in the local market.”

New GX Capital believes in a new generation of BBEEE investment with an active stake in the businesses it buys into. It is vital for the company to demonstrate value for the businesses it invests in.

Says Saurabh Kumar, CEO of In2IT Technologies South Africa, “This move provides us with additional value of the relationships now created with all New GX Capital’s investments as well as their active participation in our business, sharing their expertise in the local market and business acumen. This, together with their strong leadership, will allow us to develop solutions that are not only innovative but have a clear relevance to the South African market.”

“Furthermore, it will enable our customers to comply more closely with the codes of BBEEE through our improved status of a Level 2 contributor.”