ASI Partners with Converged Group, Expanding ICT Services Capacity and Strengthening B-BBEE Commitment

ASI Financial Services, a leading Level 1 B-BBEE Financial Services and Private Equity Investment company, is pleased to announce a strategic equity partnership with Converged Group, a forward-thinking Telecommunications and Connectivity service provider with a proven 15-year track record in the business sector.

This strategic acquisition marks a significant milestone for the ASI Group of companies, enhancing our technological and connectivity capabilities while broadening our business-to-business service offerings. Converged Group, known for its expertise in technical design and voice consultancy, will seamlessly integrate with ASI Connect’s mission of connecting our clients to their purpose and their customers.

Anthony Govender Founder and Chief Visionary of ASI, commented: “We are excited to welcome Converged Group into the ASI family group of companies. This acquisition aligns perfectly with our vision of building a holistic business services group of companies and a world-class connectivity business, leveraging innovative technology and strong technical competencies to provide holistic solutions to the corporate sector. By combining our strengths with those of Converged Group, we aim to enhance the value we offer to our clients and drive meaningful, sustainable change within the ICT sector.

As a proudly South African service provider, we are deeply committed to supporting and promoting transformation in South Africa. ASI's B-BBEE equity investment in Converged Group will empower this business as it moves forward. The ASI Group’s core investment focus spans three primary business verticals: Financial Services, Property Management, and ICT & Connectivity Services.

While each business within the group has its domain specialisation, they are interconnected and support one another through a cohesive ecosystem of partnerships. Our significant cash investment in Converged Group underscores our commitment to B-BBEE and aims to bolster competition in a market that has seen little disruption or new entrants over the last decade. With over 650 employees and more than 7,400 business customers across the group, we believe the Converged Team is well-positioned to address critical business needs within our client base.”

Bryant Dennis, CEO of Converged Group, added: “We are thrilled to join forces with the ASI Group. This partnership will allow us to leverage ASI’s extensive client network and business expertise to enhance our service offerings and deliver even greater value to our clients. Together, we are well-positioned to meet the evolving needs of South African corporates, drive innovation in the connectivity sector, and advance transformation and empowerment in our industry.”

Key Benefits of the Acquisition:

• Enhanced Technological Expertise: The integration of Converged Group’s technical capabilities with those of Interconnect Systems and Powerconnect will create a synergistic partnership, enabling ASI Connect to offer end-to-end connectivity solutions to businesses.
• Broadened Service Offerings: Clients will benefit from an expanded suite of services, including advanced technical design and voice consultancy.
• Strengthened Market Position: This acquisition solidifies ASI’s role as a leader in the business services sector, committed to innovation, client excellence and transformation.

ABOUT ASI:

The ASI Group of companies is founder-led, with a national presence in South Africa, and aims to remain a proudly African legacy brand.

ABOUT CONVERGED GROUP:

Converged Group is a privately owned technical service provider specialising in technical design and voice consultancy. With a commitment to innovation and excellence, Converged Group has been a trusted partner for many corporate businesses seeking advanced connectivity solutions.

For more information or inquiries, please contact Wayne Geyer at [email protected].