Enth Degree facilitates the implementation and management of network connectivity from financial institutions and organizations to the global financial messaging network.
As a Vendor neutral service provider, Enth Degree Consulting (Pty) Ltd provides best-fit network connectivity solutions, offering clients options tailored to their needs and at the best possible price. Network offerings include Terrestrial links, IP Transit, Fibre, Wireless, and VSAT.
Q LINK provides a cloud-based, one-stop collections and payments solution and service to improve collections, payments, and efficiency for various industries, including financial services, banking and finance, healthcare, labor organizations, and large employers in the public and private sectors. Q LINK is a strategic partner to its clients, servicing 4.5 million employees and administering over ZAR 48 billion of annual payment collections. Q LINK's affiliate company, Q SURE, specializes in similar services but is aimed at the specific needs of the short-term insurance market and manages over ZAR 13 billion in annual premiums for more than 5 million consumers.
As part of the acquisition, Q LINK has acquired a significant majority stake in Enth Degree, solidifying its commitment to driving the growth and success of both entities. Importantly, existing shareholders of Enth Degree will remain actively involved in the business, leveraging their expertise and industry knowledge to assist with future growth and synergy between the companies with a focus on the payments and collections environment. This collaborative approach ensures continuity and capitalizes on the collective strengths of both Q LINK and Enth Degree.
Commenting on the acquisition, Ian Thompson, Q LINK Group Chief Executive Officer, expressed Q LINK's excitement, saying, "The acquisition of Enth Degree is indicative of Q LINK's commitment to expanding our service offerings and strengthening our position as a leading provider in the industry. We are impressed by Enth Degree's expertise in network solutions within the banking sector and its ability to deliver seamless connectivity. Together, we will unlock new growth opportunities and provide enhanced value to our clients."
Adrian van Rooyen, CEO of Enth Degree, expressed his excitement about the acquisition, remarking, "Joining forces with Q LINK presents an exciting new chapter for Enth Degree. The synergies between our companies will enable us to provide comprehensive solutions to our clients and extend our reach in the market. We look forward to leveraging Q LINK's resources and expertise to accelerate our growth and deliver outstanding services."
Benchmark International, the facilitator of this successful transaction, played a crucial role in bringing both parties together. Tiaan Smit, the Transaction Director from Benchmark International, conveyed his contentment, saying, "Working with Enth Degree and Q LINK revealed a remarkable cultural synergy between the two. The collaboration and understanding displayed by Q LINK and its majority shareholder, Sanlam Private Equity, are a testament to their aligned values and vision. It's been a genuine pleasure aiding in this union, and the seamless fit of the two parties promises a bright collective future."
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