Sam Mudd, Bytes

Hidden in plain sight within Altron for decades was a business that, following its unbundling from its parent, is worth four times more today. Bytes Plc, which demerged and listed separately in 2021 as part of Altron’s plan to unlock value in that business, has a market value of R28 billion, versus Altron’s R7 billion. Shareholders are no doubt smiling.

It began in the 1980s as a computer software reseller and today, it’s not much different – just bigger. Altron, then under the leadership of Bill Venter, bought Bytes Technology Group in 1998 and the business was listed on the JSE. It bought out minorities in 2008, at the very top of the market, until its demerger, when markets had recovered from the Covid pandemic.