Microsoft, Adobe, Cisco and Google eye buyouts in Kenya
BUSINESS| July 4, 2012, 6:12 p.m.
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.
MORE BUSINESS NEWS
Networks Unlimited opens head office for Africa in MauritiusNetworks Unlimited has opened a head office servicing its African business in Mauritius. Read More
Orange completes Tigo acquisition in DRCLess than three months after signing an agreement with Millicom, Orange has completed the acquisition of 100% of the mobile operator Tigo in the Democratic Republic of the Congo (DRC). Read More
New cloud platform offers SMEs greater convenienceMTN Business has unveiled a new cloud delivery platform in Rwanda and Cameroon, which will enable SMEs to access cloud services with greater ease. Read More
Travelport appoints new regional manager for East African headquartersNita Nagi, formerly of Kenya Airways, has been named as the new lead for Kenya, Uganda, Rwanda and Burundi. Read More
Orange completes the acquisition of the Liberian mobile operator CellcomLiberia will now become the 20th country in Africa and the Middle East to join the Orange group with the acquisition by Orange of Cellcom, Liberia’s leading mobile operator. Read More
Orange invests in African e-commerce leader Africa Internet GroupOrange has announced the acquisition of a 75 million-euro equity interest in Africa Internet Group. Read More
HR departments need to keep pace with technology’s accelerating speedThe world of human resources (HR) is changing at a speed that is leaving most HR departments behind. New technology is bringing more transparency into the job market and into the performance of the HR department, creating new challenges for HR directors. Read More
Survey provides glimpse into the world of young entrepreneurs in AfricaThe Anzisha Prize, the premier award for Africa’s best young entrepreneurs, published the Anzisha Youth Entrepreneurship Survey 2016 this month, which provides a snapshot of the realities facing young entrepreneurs in Africa. Read More
Vodacom Business Nigeria appoints indigenous CEOVodacom Business, Nigeria’s leading total telecommunications provider has completely Nigerianised its operation with the appointment of Mr. Lanre Kolade as its Managing Director. Read More
FEATURED STORYNigeria satellite resources to boost economic growth
The Management of NigComSat says Nigeria’s satellite resources are primed to help the nation in accelerating robust ICT infrastructure to boost economic development for the country.
BEST READ NEWS
IN DEPTHIBM Opens First Cloud Data Centre in South Africa
IBM is opening a new IBM Cloud Data Centre in Johannesburg, South Africa. The new cloud center is the result of a close collaboration with Gijima and Vodacom and is designed to support cloud adoption and customer demand across the continent.
COMPANY NEWSRSA research reveals blind spots in threat detection
RSA, The Security Division of EMC, has released the results of a new Threat Detection Effectiveness Survey.Networks Unlimited event highlights SimpliVity's new Omnistack Software
Leading data protection focused distributor invites hyperconverged vendor to discuss disaster recovery and data protection.MTN and Ericsson lead the way with first LTE-U network
To future proof its business, MTN SA, together with Ericsson, has successfully trialled LTE-Unlicensed (LTE-U) at MTN’s flagship channel store in Morningside, Johannesburg.