Microsoft, Adobe, Cisco and Google eye buyouts in Kenya

BUSINESS

|
Image: By BiztechAfrica
Microsoft, Adobe, Cisco and Google eye buyouts in Kenya

By Semaj Itosno, Nairobi, Kenya

Global IT firms, Microsoft, Adobe, Cisco and Google will converge in Nairobi from October 24 to 26 in search of firms or new software developed within Africa, which they can buy out.

The firms will convene at a meeting hosted by Demo Africa aimed at identifying the most innovative emerging and established companies from around Africa.

Demo, a launch pad for emerging technology and trends in Africa, has partnered with Venture Capital for Africa — an online network of entrepreneurs and investors building innovative companies on the continent — to bring the event to Kenya.

The meeting is aimed at exposing budding IT firms to the global buyers, who will be scouting for software firms that can help them scale their products and services to the next level.

Harry Hare, executive director of Demo Africa, said the event is different from previous ones held by equity capitalists in the country in that the multinationals will be looking for products that are ready to market as opposed to giving grants for competition or funds for developing a product.

“We are very excited about holding the inaugural Demo event on the African continent. This collaboration with VC4Africa will serve to increase the outreach and ultimate participation at the event by Africa’s most innovative entrepreneurs as well as investors who are looking for the next big thing in Africa,” Mr Hare said.

Hand-picked and specially selected companies will deliver their six-minute pitches to potential investors and buyers to garner their buy-in and interest. 

here will also be presentations and panel discussions from leading industry players and experts on consumer electronics, web-based applications, mobile technology, social media, life sciences, as well as sustainable and renewable energy.

Ben White, founder of VC4Africa said: “The number of ventures coming online across Africa is rapidly increasing... Joining forces allows us to welcome a new wave of innovators, put them in the spotlight for investors.”

The Demo conferences have earned their reputation for consistently identifying tomorrow’s cutting-edge technologies and have served as launch pads for many companies. 



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE BUSINESS NEWS

TLcom achieves second profitable African exit of 2014 with Movirtu sale

Venture capital firm TLcom Capital (TLcom) has announced its second profitable exit in Africa this year with the sale for an undisclosed fee of virtual identity solutions provider for mobile operators Movirtu to BlackBerry. Read More

Why CWG is re-strategising

Tayo Oduwole, James Agada, Bature Umar Masari, Austin Okere, and Nasiru Izegwire Nigeria’s Computer Warehouse Group (CWG Plc) is re-strategising to take the company in a different direction. Read More

Green accelerator programme launched in Kenya

Impact Amplifier, Growth Africa, VC4Africa and Hivos have joined forces to launch an accelerator programme for green entrepreneurs, looking to help these entrepreneurs scale their innovations across Africa. Read More

Nigeria will drive West African operations, says Asseco chief

L-R: Simon Melchior, Mrs Ogunboye, Majekodunmi and Communications M Akinwande Oluwatobi European software giant Asseco Group has decided to open shop in Nigeria to drive its presence in the sub-region from the country. Read More

Eaton Towers acquires Airtel towers in 6 countries

Eaton Towers and Bharti Airtel today announced an agreement for the acquisition of over 3,500 telecoms towers by Eaton Towers from Airtel. Read More

TNM first quarter net profit jumps to K1.8 billion

Malawi's mobile telecoms network service provider TNM continues to realise an increase in net profit from operations. Read More

Revenues from tablet games to triple

New data from Juniper Research has revealed that by 2019 worldwide revenues from tablet games will reach $13.3 billion – a threefold rise on the 2014 figure of $3.6 billion. Read More

Airtel Uganda hosts high value customers at Business Leaders’ Forum

Enterprise Director, Airtel Uganda, Mr. Oladapo P. Sorinolu Airtel Uganda has hosted an Enterprise Expo in Mbarara district, Western Uganda, as part of efforts to provide practical and modern business solutions to its high value customers.  Read More

Safaricom, Airtel complete yuMobile deal

Safaricom and Airtel have completed the US$120 million acquisition of yuMobile from Essar Telecom. Read More

GrowthAfrica, Usahibu partner to solve SME accounting issues

Kenyan accelerator GrowthAfrica has partnered cloud computing firm Uhasibu in a bid to address the accounting and financial software needs of East African startups and small and medium enterprises (SMEs). Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

MFarmer SMS redefines market access for Ugandan farmersMFarmer SMS redefines market access for Ugandan farmers

Ugandan smallholder farmers are benefitting from an ambitious innovative ICT mobile phone initiative that offers weather reports and up-to-date market information about changes in prices for agricultural commodities, thus granting them lucrative returns from their farming ventures. 

IN DEPTH

NIG President speaks his mindNIG President speaks his mind

Bayo Banjo, CEO, Disc Communications and President, Nigeria Internet Group (NIG) says the proposed licensing of infrastructure companies by the Nigeria Communications Commission (NCC) will breed corruption and entrench monopolistic practices. Kokumo Goodie reports.

COMPANY NEWS

VMware announces general availability of new solutions for building, managing and protecting softwar

VMware has announced the general availability of VMware NSX 6.1, VMware vCenter Site Recovery Manager 5.8, VMware vCloud Suite 5.8, VMware vRealize Operations Insight, VMware vRealize Suite ...