Convergence Partners is an investment management and advisory firm, focused on the telecommunications, media and technology sector in emerging markets, with a principal focus on Africa.

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Dimension Data is South Africa’s largest IT services provider

January 30th, 2012 | admin
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Dimension Data, the global specialist IT solutions and services provider, has been positioned by BMI-TechKnowledge as the largest provider of IT services to the South African market.
“In its latest IT services market sizing and forecast of 2010-2015 report published in December 2011, BMI-T recognised that Dimension Data was still the largest provider of IT services in South Africa in 2010, accounting for 15.4% of the total IT services market, up from 14.8% in 2009,” the company said on Tuesday.

Plessey targeting new infrastructure opportunities

January 24th, 2012 | admin
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Howard Earley, COO of Plessey, a Convergence Partners investee says that Plessey has identified the opportunities that exist and need for a next-generation service provider with the ability to build the infrastructure required by the fast growing communications industry.

Dimension Data delivers double digit growth

December 13th, 2011 | admin
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Convergence Partners investee, Dimension Data, which was delisted about a year ago, after being bought out by Japan-based NTT in a R24.2 billion deal, reported double-digit top line growth for the year to September.
The company says revenue grew 14.8%, to $5.79 billion, from $4.74 billion for the 2010 financial year. It also reported double-digit operating profit growth of 10.8%.

Plessey’s Howard Earley discusses the need for specialist infrastructure management in the fast-changing telco world

November 23rd, 2011 | admin
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Howard Early, COO of Plessey, explains the growing need for specialist infrastructure management in the fast-changing telco world.
In the early days of telecoms, it was taken for granted that the telco would build, operate and maintain its own infrastructure. Now, while many telcos do still operate their own infrastructure, fewer actually build it, and many outsource the maintenance of it.

Convergence Partners successfully exhibits at 14th Annual AfricaCom Conference

November 15th, 2011 | admin
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Convergence Partners successfully participated as a sponsor and exhibitor at the 14th annual AfricaCom Conference, held in Cape Town on 9 and 10 November 2011. AfricaCom is the largest communications conference and exhibition on the Continent, gathering together more than 5,000 telecoms decision-makers. This is the second year that Convergence Partners has exhibited at the conference.
Exhibiting on the Convergence Partners’ stand was Comsol, FibreCo, Plessey and SEACOM with each of the companies presenting their offerings in the communications infrastructure space.

Dimension Data reports strong results

August 24th, 2011 | admin
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Dimension Data recently released its quarterly results, reflecting strong revenue growth of 4.7%, to $1.46 billion, in the quarter to June 2011.
So far, for the first nine months of the year, group revenue is up 13.4% in constant currency to $4.2 billion. Product sales improved by 13.1% and services grew 13.6% year-on-year. Dimension Data explains growth would have been higher in reported US currency due to the dollar’s relative weakness during the first nine months of the year. Overall, group operating profit for the nine months improved 14.2%, to $203.7 million.

Howard Earley appointed Chief Operating Officer, Plessey Group

February 11th, 2011 | admin
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Howard Earley has been appointed as Chief Operating officer for Plessey Group, a company in which Convergence Partners is invested. Howard has been with Plessey for 14 years in various capacities including chief financial officer and acting CEO. In this new role, he will be responsible for driving programmes to improve the company’s overall operations, including the execution of a strategy to more effectively position Plessey’s offerings and capabilities.

Dimension Data say cheers on a high note – Dimension Data delisting from JSE

November 18th, 2010 | admin
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After being listed on the JSE for the past 23 years, today marked the final day of trading of Dimension Data shares. However, Didata exited on a high note with it reporting strong full year results for 2010.
The Dimension Data group, which is being acquired by Japan’s Nippon Telegraph and Telephone (NTT) Corp, reported a 9,9% increase in sales in constant currency terms in the 2010 financial year to September. The company reported revenue growth of 19,4% to US$4,74bn, due in part to currency gains.

Dimension Data plc releases Interim Management Statement for quarter ended 31 December 2009

February 24th, 2010 | admin
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The Group recorded a sound trading performance for the quarter ended 31 December 2009. Reported turnover reflected an approximately 6% increase in relation to the three months to 31 December 2008.

Meet Richard Bicker-Caarten: Chief Sales, Solutions and Marketing Officer at Plessey (Proprietary) Limited

January 26th, 2010 | admin
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The first in a series of regular articles to introduce certain key executives from across the Convergence Partners investment portfolio. Richard is the chief sales, solutions and marketing officer at Plessey and tells us a little about himself and shares some of his views on the ICT landscape in South Africa.