Adapt IT, a software and digitally-led business solutions provider, is set to delist from the Johannesburg Stock Exchange (JSE) next week, 4 January 2022.
It comes as Canadian software company Volaris Group’s offer to acquire the group for a cash consideration of R7.00 per share was finalised.
The ICT provider has faced numerous headwinds during the course of 2021, due largely to the Covid-19 pandemic, a weak local economy, and the impact of the social unrest.
In May, then chief executive officer of JSE-listed technology company, Sbu Shabalala took a leave of absence, and then later resigned – replaced by Tiffany Dunsdon, who resides in Australia.
Volaris made its initial bid for Adapt IT in April, and faced competition from local telecommunications company, Huge Group. However, in June 2021, shareholders voted in favour of the Volaris deal – carried at 87%.