Internet Solutions acquires majority stake in Antfarm

Internet Solutions acquires majority stake in Antfarm

Internet Solutions has acquired majority stake in local streaming media company Antfarm for an undisclosed amount. The internet service provider will improve its market penetration with the new acquisition.

Streaming media is among fast-growing sectors in South Africa. It was logical for Internet Solutions to buy controlling stake in media streaming service. The video content demand has increased steadily across the country. With Antfarm, Internet Solutions will be having bigger market share.

Greg Montjoie, executive for connectivity and carrier, Internet Solutions confirmed the news. He further added, “Streaming media services, particularly video content, are growing at double digit growth rates, both in the consumer and business space.” Cisco recently released a report on internet usage in the country. The company has put number of video users higher than 2 billion by year 2017.

However, Internet Solutions has not revealed the deal size. Antfarm will continue to work under same brand name. The company will remain headquartered in Pretoria and the current staff will continue at Antfarm.

With better broadband coverage, the video content market is expected to grow further. Also, with introduction of better packages for mobile users, the video content demand will be much higher in coming years.

Andrew Aitken, sales and marketing director, Antfarm said that the deal will help the company increase its consumer base and offer better services. Antfarm was launched in year 2000 and has grown steadily over years and currently commands leading market share in African market.

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