Technology player 4Sight has announced that it will be listed on the JSE’s Alternative Exchange (AltX) in October, giving South Africans an opportunity to invest in an international, “pure data” technology company.
The company, which deals in data and technology solutions, seeks to raise at least R300 million through acquisitions and incubation of new products in diverse sectors.
Company co-founder and CEO Professor Antonie van Rensburg (pictured below), says he foresees demand for real-time decision solutions in what is known as the fourth industrial revolution or industry 4.0.
“The underlying power to unlock economic value lies in the use of scientific and engineering skills applied cross-functionally with disciplines such as econometrics, medical sciences, bio-informatics, and astrophysics,” said Van Rensburg.
4Sight hopes to expand through organic growth and acquisitions, seeking profitable businesses with deep data science skills. All of 4Sight’s founders and management will remain shareholders in the group.
The company plans to conclude more acquisitions by December this year. Part of its plan is to offer mining and manufacturing customers the ability to optimise value chains and plant operations in real-time through new Artificial Intelligence (AI) technology. AI’s ability to predict physical asset failures up to eight weeks in advance, will provide customers with the benefit of reducing operations downtime.
“Our acquisitions are aimed at creating long-lasting partnerships with Industry 4.0 companies to ensure our core focus on intelligent algorithms are secure for future licensing revenue flows,” Van Rensburg says.
4Sight, which is incorporated in Mauritius, acquired Digitata Mauritius in June this year. Operating in telcos, media and property services industries, and utilising big data, machine learning, AI, blockchain technology and data science capabilities, the company serves more than 60 million consumers across 15 countries worldwide.
It also transforms the source of most of 4Sight’s revenue: Following the acquisition 97% of revenue will be dollar-based.
4Sight’s planned acquisitions will add about 150 employees to the fold, bringing the data science and engineering capability to 300 personnel across the world, supported by another 200 on-demand specialists through its digital workforce platform.