A slew of acquisitions has cemented fast-growing media technology firm Tritech Media as a front runner in SA’s digital media space, and it’s now looking to make gains in offshore markets.
Tritech, which provides precise corporate digital communications for marketers and consumer digital content using its various technologies, is already testing elements of its business model in the US.
CEO of Tritech William Kirsh, media veteran and founder of Primedia, tells Moneyweb that its moves beyond SA will be measured and that sizeable offshore opportunities may be concluded.
“The international landscape is increasingly coming on our radar. But going international requires a fine balancing act, measuring offshore risk but at the same time ensuring we entrench our leadership position in SA,” says Kirsh.
Focus on media technology
Tritech’s focus is on three aspects of media technology: digital media, customised content, and proprietary technology to both consumers and corporates – through its operations which range from distributing iTunes and Google Play prepaid vouchers to compiling consumer data for marketing insights.
It has already exported its business COLONYLive to the US. COLONYLive tracks the online communication of brands through social/digital media and builds a detailed profile of consumers that can be used by marketers for precise communication.
COLONYLive, which is an extension of Tritech’s digital marketing subsidiary COLONY, has been built for radio stations to communicate with their audiences. Kirsh says COLONYLive is being tested at 12 radio stations in Mississippi.
“The radio industry is under tremendous pressure, ill-equipped for precise communications and under threat from unregulated audio streaming services. There’s nothing like COLONYLive in the US,” he says.
Deals in the US
Tritech has set up an office for its loyalty rewards technology subsidiary Loyalty Box in Dallas, Texas with a management team to help support future deals in the US.
“Because of the uniqueness of many of our business, we are now targeting international markets and mainly responding to international demand.”
Market interest is also growing for Tritech’s gaming platform GameZBoost, says Kirsh.
Tritech’s offshore ambitions don’t mean that it’s ditching growth plans in SA. In fact, Tritech – which evolved from Value+ Nettwork and was launched by Kirsh in 2010 following his resignation in 2009 from media conglomerate Primedia – has been busy on the deal-making front.
So far this year, seven acquisitions have been concluded with another still in the pipeline before year-end.
As part of its acquisition approach, Tritech acquires stakes in companies that are usually not larger than 50% in order to partner with the founders of the businesses acquired.
Acquisition drive
Its most recent acquisitions include a 30% stake in license plate recognition parking app-based KaChing; a 20% stake in GoMetro, which operates a public transport network app; and a 35% stake in Thesl, a cash payment platform that the insurance industry can use to replace lost or stolen goods that individuals have claimed to avoid the misuse of paid claims.
Tritech’s rousing deal-making is indicative of the many opportunities that still exist in SA’s digital media space, says Kirsh. “There are still many opportunities locally and we want to make sure that we consolidate the digital media space.”
Read here and here about Tritech’s other acquisitions.
This story was first published on Moneyweb and is republished here with the permission of the editor.
