CAPCOM to Invest $210 million In Starcomms

Starcomms Plc, one of Nigeria’s leading CDMA operators has announced that it has reached an agreement with CAPCOM Limited to provide it with a capital investment of cash and assets independently valued at $210 million.

Founded by MBC, CAPCOM is a trust of 20 years standing whose portfolio companies manage over $1.25 billion in the asset management and commercial banking sectors focused on emerging markets. It has attracted a group of family offices and funds committed to investing in the Nigerian telecommunications industry and participating in the development of the sector. 

It is backed by a number of African and emerging market funds including Pan-African Capital’s asset management division (PAC Asset Management) and two private family offices with long experience of investing in Africa, Bridgehouse Capital and OldonyoLaro Estates.

A statement made available to onlinerommy.blogspot.com said that with this investment, CAPCOM aims to create a national Broadband Internet champion capable of significantly contributing to the government’s ambition to overcome the digital divide between Nigeria as an emerging market and other developed markets internationally.

The statement reads in part: “CAPCOM has agreed to cause the contribution to Starcomms, of certain CDMA assets over which it intends to acquire control in separate but related transactions. These include the spectrum licence of MTS and the CDMA mobile telecoms business of Multi-Links.

“In addition to facilitating the CDMA consolidation, CAPCOM will provide $98 million in cash to finance the post-acquisition integration of these assets, to meet on-going short-term losses in the business and to deliver the combined company’s new business plan.

“In return for its investment into Starcomms, Capcom will receive new Starcomms shares which will result in CAPCOM owning 90.5% of Starcomms restructured issued share capital. In consideration of their proposed sales of certain assets to CAPCOM, both Helios Towers Mauritius Holdings Limited and Asset Management Corporation of Nigeria (AMCON) will own stakes in Starcomms (together representing less than 12% of CAPCOM’s equity following CAPCOM’s investment) derived

Samsung Brings Intel-Powered ATIV Smart PC to Nigeria

*Mark Ihimoyan, Consumer Channels Group Director, Microsoft Nigeria, 

Mr Raja Ko, General Manager, IT, Samsung Electronics West Africa, 

Mr Matthew Iwundu, Samsung Manager, Mrs Sade Oyelayo, Head IT, 

Samsung Electronics West Africa and Mr. Olubunmi Ekundare, Country 

Manager, Intel Nigeria during the unveiling of 

Samsung/Intel ATIV smart devices in Lagos

Samsung Electronics West Africa, acclaimed global leader in digital media and digital convergence technologies, has announced its new Intel-powered ATIV Smart PC and ATIV Smart PC Pro based on Windows 8.

These new products according to a release, can easily transform from a traditional clamshell notebook PC to a tablet PC device with just the click of a button, maximizing both productivity and mobility.

The Samsung ATIV Smart PC runs on an Intel Atom Clover Trail chip, much like the Asus Vivo Tab. The 32nm chip offers x86 performance and compatibility, but the smaller DI size offers better performance and improved power management, with Samsung promising up to 14 hours of battery life.

Designed for Windows 8 with Samsung’s advanced engineering and a ten-point touch screen, users can easily stay connected and productive from everywhere.

Executive Vice President of IT Solutions Business at Samsung Electronics, Seongwoo Nam said of the Smart PC: “We are delighted to launch our new Windows 8 based ATIV Smart PC and ATIV Smart PC Pro. With our leadership in design and technology and Microsoft’s leadership in operating systems, together we are able to provide customers the most beautiful design, powerful performance and ease of use.”

Combining revolutionary design, the power of a notebook PC and the convenience of a tablet PC, the 11.6-inch Samsung ATIV Smart PC is Samsung’s next smart device. This provides computing power with Windows 8 functionality as well as full Windows 7 compatibility. The device features a detachable keyboard-docking system that allows users to easily switch between a clamshell notebook PC and a tablet PC form factor. This device allows for great mobility with maximum productivity.

Head IT, Samsung Electronics West Africa, Folasade Oyelayo, had noted at a media briefing in Lagos that Windows 8 Operating System is best experienced using the touch technology. To this end, the advanced 10-finger multi-touch screen of the new ATIV Smart PC, provides a technological leap in interactivity, surpassing the traditional two-finger touch features. Its enhanced sensitivity allows users to pinch-to-zoom, rotate images and scroll through pages with ease to enjoy the full