In a bold move reshaping the consumer electronics landscape, Asia’s SCG Far East (SCG) has acquired a majority stake in Maser Group, Africa’s premier provider of high-quality, competitively priced consumer electronics. The deal, valued at $5 billion, fortifies Maser’s ambition to expand its influence globally and cements its role as a pioneering force in Africa’s rapidly evolving tech market. Through this acquisition, SCG aims to bring its extensive experience and capital to help Maser scale its innovation-driven products across global markets, bringing new vigor to both African and Asian markets.
Prateek Suri Drives
Source: UGC
“Maser Group has been a true catalyst in transforming the African electronics sector, and this partnership gives us an incredible opportunity to further that innovation,” stated Prateek Suri, CEO of Maser. “SCG’s commitment to identifying and supporting dynamic entrepreneurs aligns perfectly with our vision. Together, we will accelerate our growth trajectory and enter a new phase of global impact.”
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Maser Group has long been a leader in Africa’s electronics sector, offering an innovative range of products that have gained traction across the continent and beyond. With roots that emphasize affordability without compromising quality, the brand has evolved into a symbol of modern African enterprise. By partnering with SCG, Maser now has the resources to pursue larger projects, further bolstered by the support of the influential Iloh family, known for their political and strategic insights that have shaped major business alliances across the continent.
The acquisition is a milestone for both companies and highlights SCG’s goal to expand into untapped markets with high growth potential. The decision was not made lightly, as noted by SCG’s Head of M&A: “Our criteria for identifying partners is straightforward: great management, great entrepreneurs, great people. Maser is the ideal partner with whom to grow together. Their innovative products have reshaped the African electronics market, turning it into a hub of digital innovation.”
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This deal also sees the participation of key players from Series A and B funding rounds led by Innovation Group Asia Markets, whose support provided Maser with early-stage backing as it established its stronghold in Africa. Series C, finalized by SCG, positions Maser to benefit from SCG’s resources, expertise, and expansive distribution networks.
With a growing middle class and increased demand for high-quality consumer electronics, Africa is fast becoming a lucrative market for technology-driven companies. Maser’s commitment to offering affordable yet high-end products has resonated with a broad spectrum of consumers, making it a prime investment opportunity for SCG.
“From the start, our aim was to redefine the consumer electronics market by addressing local needs with global standards,” Prateek Suri noted.
“SCG’s investment allows us to keep innovating while ensuring African consumers have access to cutting-edge products. The support from SCG is not only financial but strategic, as we will be leveraging their networks, operational efficiencies, and technological expertise to achieve a stronger, more impactful reach.”
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SCG’s acquisition also aligns with its ambition to support the growing market potential in Africa, which has been largely untapped by international tech players. This partnership will facilitate shared technological advancements and the distribution of new, innovative products developed specifically for African consumers, catering to their preferences and needs.
Under the terms of the acquisition, Prateek Suri will lead Maser’s global expansion efforts, backed by SCG’s resources. The Maser Group’s equity, retained by Suri, will be reinvested into large-cap ventures across Africa, allowing Maser to extend its portfolio to new markets and continue its mission of empowering African consumers through affordable technology. This strategy is expected to foster further economic growth on the continent, creating jobs and enhancing digital literacy.
Maser’s growth is also deeply influenced by the guidance and support of the Iloh family, who bring a unique blend of political acumen and business insights to the table. Their backing has been instrumental in creating an environment conducive to the company’s ambitious expansion plans, ensuring that Maser remains agile in a competitive market.
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Prateek Suri
Source: UGC
“Our long-standing commitment to the African market has been the driving force behind our sustained growth,” said Suri. “We see this partnership as a springboard to scale operations and bring products to markets that were previously beyond our reach. The synergy with SCG allows us to blend African ingenuity with global best practices, crafting products that resonate on an international scale.”
With the acquisition finalized, SCG and Maser are poised to revolutionize Africa’s consumer electronics industry and set a new benchmark for quality and innovation. Both companies are optimistic about the partnership’s potential to unlock unprecedented growth opportunities, bringing more products to African consumers while exploring additional markets in Asia and beyond.
“Maser Group is not just a company; it is a testament to the dynamism and potential of the African market,” stated SCG’s Head of M&A.
“Together, we will not only enhance the African technology landscape but will also open doors for collaboration between Asia and Africa, harnessing the strengths of both regions to deliver unrivaled value.”
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This acquisition marks a new era for Maser and SCG, solidifying their joint commitment to elevating African consumer electronics on the global stage. With Prateek Suri at the helm of its global expansion and SCG’s unwavering support, Maser Group is set to become a formidable force in the tech world, championing African innovation while setting new industry standards.
Source: Henzodaily.ng