Alt-X-listed engineering software developer, Ansys, has made an offer to purchase Profitek Industrial Communications for an up front amount of R40 million, which was accepted on 13 July 2017.
The Ansys group consists of a portfolio of technology businesses operating in the Rail, Mining and Industrial, Defence and Information Security and Telecommunications market sectors, both locally and internationally.
“The transaction enhances Ansys’ safety and productivity business division, in the company’s pursuit to become a digital technology solutions provider which leverages its own intellectual property to provide world-class products for global distribution,” Ansys said.
An amount of R12 million or 30% shall be settled in cash, and 70% will be settled by issuing Ansys ordinary shares.
In June Ansys reported a 70% rise in revenue to R806 million for the year ended March 2017.
The group said that EBITDA improved to R113.1 million from R42.8 million in 2016.
Net profit was up 239.2% to R67.8 million, contributing to the 203% improvement in HEPS from 4.86 cents in 2016 to 14.71 cents.