The company restructured and rebranded to create an enhanced platform for growth, says CEO Teddy Daka.
Transitioning from its heritage as a provider of products and services to specific market sectors, Ansys has repositioned itself as a full-service provider of digital technology solutions that can be used both within the sectors it already serves, as well as in new sectors. To reflect this, the group is now called Etion, reflecting the company’s core ethos of innovation, energy and action.
According to Group CFO Elvin de Kock (pictured) the rebranding provides a means for the copmany to communicate its new positioning and strategy to the market, as well as a means to unite the four businesses that make up Etion under one name, one culture and one vision for the group.
De Kock says the reasons for the rebranding and name change were threefold:
“Firstly, it was important in order to ensure that the company can remain sustainable, relevant and competitive in a rapidly changing and highly competitive digital technology environment. It was also necessary in order to facilitate greater cross-selling of IP, products and services across different sectors and segments, as well as to create a strong platform for entry into new sectors, segments and territories. And thirdly, it was necessary in order for the group to be able to benefit from greater economies of scale in the medium and long term.”
Asked what difference he anticipates this will make for the company, De Kock says the organisaiton is is now well positioned to take advantage of the many opportunities the digital revolution is creating, particularly in the areas of ODM, the Internet of Things (IoT) and cyber security. “The immediate benefit to shareholders is that this is protecting them against seismic changes in certain sectors, specifically in the rail sector. In the medium to long term, shareholders will benefit from the fact that Ansys is securing a leadership positioning in the digital technology space,” he says.