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Newly listed technology company 4Sight Holdings has announced that it has entered into an agreement to acquire engineering technology company BluESP Holdings. The deal is worth R54.8 million.

4Sight to acquire BluESP4Sight is a technology group that specialises in investing in established ‘Industry 4.0’ companies using technologies such as artificial intelligence (AI), machine learning (ML), algorithms and the Internet of Things (IOT). BluESP is an engineering technology company, focusing on delivering software solutions to the mining and manufacturing sector. These solutions enable companies to operate their processing plants or manufacturing processes optimally, maximising revenues, eliminating inefficiencies and minimising costs.

BluESP has been involved in projects across the globe. It’s customers in South Africa include Sasol, Columbus Stainless, Anglo-American, Glencore, Impala Platinum, Lonmin, Samamcor, Tharisa, Tronox, South32, Chevron, Arcelor Mittal, Natref and Kynoch. Global customers include First Quantum Minerals (Zambia), Mount Isa Mines (Australia), Sekura (Malaysia), GS Caltex (South Korea) and Shell (Germany).

Based in Jukskei Park, BluESP has partnered with AspenTech, a leading global provider of asset optimisation software solutions for capital intensive industries. BluESP is AspenTech’s world-wide partner for the mining sector.

“The acquisition of BluESP is line with 4Sight Holdings’ acquisitive and organic growth strategy of acquiring Industry 4.0 companies and provides the 4Sight Holdings group with deep skills in data science and real-time decision-making solutions, with large customer bases internationally and in South Africa, and the ability to enhance solutions across customers and industries,” 4Sight said in a statement.

R19.8 million has already been settled through the issue of vendor shares at R2.00 per share. An additional 17 500 000 shares will also be issued at R2.00 per share in settlement of the share portion post listing. BluESP Holdings will become a subsidiary of 4Sight.

Image credit: Copyright: everythingpossible / 123RF Stock Photo

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