Acquisition of Cygma
In a swooping move the company grabbed up the intellectual property rights and assets of Cygma, a division of The Cygma Group. The decision was made to acquire the domain name and service contracts of Cygma after its value was made known.
In a slight twist of events, it has come to light that another “cygma” company is claiming trademark ownership of the Cygma name. The new company, registered in 2020 claims to offer a Payment Solution, but details are unknown.
This came amidst the fact that the Cygma Group, who formerly traded as Cygma SHEQ South Africa and others, closed its operations in South Africa and sold its only surviving franchise to Cygma SHEQ North(Pty)Ltd.
Company director, Rudy Maritz said it was a decision born from frustration as the SHEQ consulting industry took a tumble since 2010 when it established an open-door professional association. This led to the entry into the profession of vocationally qualified and inexperienced practitioners devaluing the established professionals to such an extent that most left the country and work elsewhere.
The High Option Ltd. plans to rebrand Cygma, into a private lending firm to fund its own Start-Up incubation program. This change will only be done once the company has applied for registration as a private lender with the National Credit Regulator. With this in place, Cygma will be offering Start-up finance up to R10 000 per application for individuals who leases any of their Digital assets for 5 year or longer.