Vox Telecom, the South African telecoms operator, has concluded a deal that gives it a majority stake in Everlytic, the Vumela-backed enterprise marketing cloud company. The Vumela Fund, which is managed by Edge Growth and FNB will retain the minority stake it acquired in 2013. While no seller or valuation data was provided, the company has been on a significant growth trajectory, growing over 600% in the past 5 years and heading the leaderboard of Deloitte’s Technology Fast 50 Africa awards in 2014.
In the statement announcing the transaction, Vox Telecom’s CEO, Jacques du Toit, is quoted as saying “The addition of Everlytic completes our portfolio of products and solutions that allow customers to communicate via any delivery channel – email, fax and SMS. They also add significant intellectual property in campaign management and success that we are keen to leverage.”
Vox plans to operate Everlytic as a standalone business division, retaining its team of developers, creatives and marketers as well as the company’s culture.
Edge Growth’s Head of Investments for Vumela, Richard Rose, says “We’re excited to continue backing this exceptional team and world class digital communications software. Vox Telecom is a natural fit for the business and will be a significant force in achieving our ambitious growth plans.”