Investment firm Thebe Investment Corporation has taken up controlling stakes of 51 per cent in Discover Digital South Africa and 50.1 per cent in Discover Digital International. Discover Digital, an end-to-end digital media, content and fintech solutions provider, has been in existence since 2014. The deal has already been concluded.
hebe Media’s primary objective is to become a significant player in the development and distribution of locally produced content and key to this strategy is access to various content and distribution platforms; and the provision of requisite mobile telecommunications platforms such as Wi-Fi, LTE/4G through targeted acquisitions or strategic partnerships not only in South Africa, but across the African continent.
“The acquisition of Discover Digital contributes to the fulfilment of Thebe’s ambitions in this sector by being another source of local content and a platform that distributes content to intended audiences supporting Thebe’s current portfolio of media assets, which include Kaya FM and Thebe Connect,” said Jerry Mabena, CEO of Thebe Services.
Discover Digital South Africa operates in the South African and Namibian markets, while Discover Digital International, which is based in Mauritius, services the rest of the African continent. According to Stephen Watson, founding MD of Discover Digital, the deal positions the company to grow across the continent and become a major player in enabling video on demand and IPTV solutions for broadcasters, telecommunication players and content owners from a distribution and technology perspective.
“It is great to have Thebe on board as a shareholder in the business. For the first time, we have a strategic partner that shares a common vision on the growth of media and particularly the digital transformation journey that is happening in South Africa and on the continent,” said Watson.