Ellies Holdings | Speedinet Wireless Internet Service Provider And Seo marketing and Social media marketing in house software developer

End of the road for Ellies

One of the JSE’s longest-surviving technology companies is no more: Ellies Holdings will be wound up and shut down.

One of the JSE’s longest-surviving technology companies has been placed into voluntary business rescue.

Ellies Holdings has agreed to buy 100% of Bundu Power, a company that specialises in alternative power solutions, for a maximum R202.6-million.

Ellies Holdings cautioned investors on Wednesday that it is in negotiations about potential acquisitions in the solar and renewable energy sectors.

Ellies Holdings said on Monday that it will embark on a “formal consultation process” with employees under the Labour Relations Act.