The IST Group of companies was founded in 1980 and listed in the electronics and electrical equipment sector of the JSE Securities Exchange in 1998. Technology group IST was acquired by a consortium headed by Ethos Private Equity during October 2004. The company then de-listed from the JSE Securities Exchange and Ethos controlled 52.7% of the business, while just over 25% was held by empowerment company ICT Arusha.

Management had 20% and other shareholders 2.3%. In September 2007 the company was acquired by Powertech a wholly owned subsidiary of Allied Electronics Corporation with Izingwe as the Black Economic Empowerment partner. Powertech subsequently owns 75% of the business with Izingwe holding a 25% stake in the new entity that operates under the registration number 2007/015049/07.

Through its subsidiaries and operating division, the group provides high technology solutions in areas of integrated electro-mechanical and engineering software solutions, telecommunication technology and energy management systems and services. Powertech

IST comprises two major operating segments: the electronics, which is engaged in the energy systems and the telecommunications sector; and the mechanical group which serves the multi-disciplinary projector sectors.