Tech giant Mustek broadens its horizons, taking a significant stake in Business AI, venturing into the realm of artificial intelligence.
Mustek Expands into Business AI, Announces Mixed Financial Results
Mustek, a technology solutions provider, has made a strategic move into the realm of Business AI by acquiring a 51% stake in Business AI (Pty) Ltd. This investment positions the group to capture new growth in AI-enabled hardware, software, and services.
The acquisition, effective on 1 August 2025, comes as AI is now among the top IT investment priorities for enterprises, according to Mustek's Chief Executive, Hein Engelbrecht. With AI adoption accelerating globally, Mustek's expansion into Business AI signals its intent to move beyond traditional distribution and play a leading role in shaping the region's AI ecosystem.
Despite the mixed financial results for the year ended 30 June 2025, Mustek reported a significant improvement in profitability. Basic earnings per share nearly doubled to 71.71 cents, while headline earnings per share rose 8%. The group also generated R687 million in cash from operations, marking a sharp turnaround from last year's R60 million.
However, Mustek's revenue fell 15% to R7.18 billion. This decline was partially offset by the financial performance of the newly acquired Business AI, whose B2B marketplace portal reported mixed results, according to Mustek's report. The portal, designed to connect enterprises with vetted AI vendors, will list products and services from AI platforms, solution providers, and data centres. Every product and service listed on the portal has undergone quality, relevance, and security checks.
Business AI is building a dedicated B2B marketplace portal with the aim of acting as a trusted gateway for businesses seeking to adopt AI securely. The portal is set to become a significant platform for businesses in the region, providing a secure and reliable avenue for AI adoption.
In addition to financial improvements, Mustek highlighted progress in working capital management, cutting inventories and receivables by 19%. The group also declared a final dividend of 13.75 cents per share, up from 7.50 cents in 2024.
The acquisition of Business AI marks a significant step for Mustek as it ventures into the AI sector. With the B2B marketplace portal set to launch, Mustek is poised to play a crucial role in facilitating AI adoption for businesses in the region.
