MGX is one of South Africa’s major listed IT companies and it has a large number of both wholly and partially owned subsidiaries, including an empowerment IT company, Motswedi. MGX had revenue in Financial 2000 of close to R460m with attributable earnings after tax of some R68m. One of its business units is Business Continuity Solutions.
Secure electronic payments company, Prism Holdings, has secured a second multimillion Rand SIM order from NYSE-listed SchlumbergerSema. This follows strong, continuing demand for the Prism SIM, aSIMetrix, in the wake of the signing of a strategic commercial agreement between Prism and SchlumbergerSema, the world's leading provider of smartcard-based solutions, late last year. The agreement included the licensing by SchlumbergerSema of various advanced m-commerce and m-payment technologies developed by Prism.
According to Steven Sidley, Prism's group marketing director, the initial order resulting from the agreement translated into a gross profit to Prism of over R40 million.
"The latest order should generate an additional R13 million-plus gross profit for Prism. More important, however, is the fact that this order underscores the success of our technology. It also heralds a strengthening of our relationship in the Asia Pacific (APAC) region where SchlumbergerSema is the largest SIM-based solution provider," he said.