Adapt IT buys telco billing firm for R200 million

JSE listed Adapt IT, says it has acquired 100%of AspiviaUnison, a cloud telecommunications intelligence and management solutions provider.

Shares in Adapt IT advanced more than 10% in trade last Tuesday (21 October) after it advised that it has entered into negotiations in respect of a possible acquisition.

The deal, worth up to R200 million, adds yet another important pillar to the company’s growing software solutions set, and Adapt IT will be acquiring all intellectual property and technology of AspiviaUnison, the group said.

“AspiviaUnison has a robust entrepreneurial management team and generates strong annuity income from the Cloud Based solution set. This further entrenches Adapt IT as a leading provider of IT services and solutions to the Financial Services Industry and the wider Private and targeted Public Sector markets,” said Sbu Shabalala, CEO of Adapt IT.

Adapt IT has more than 460 employees operating predominantly from business divisions in Durban, Johannesburg, Pretoria and Cape Town and is led by a core team of executives.

The company has customers in 21 countries in Africa, Asia, Australasia, Europe and North America, and its services and solutions span the complete IT life cycle, from consulting and application design, through to delivery and support.

In August, it reported a 69% rise in operating profit to R49.6 million for the year ended June 2014.

Turnover increased 34% to R406.3 million from R303.4 million in 2013, with headline earnings per share up 55% to 34.55 cents.

Adapt IT lifted its dividend per share by 48% to 8.23 cents, from 5.56 cents before.

During the period under review, it acquired the Aquilon group of companies, which now forms part of the Adapt IT Energy sector.

More on Adapt IT

Adapt IT in acquisition talks

Adapt IT reports 69% rise in profit

Adapt IT earnings surge

Adapt IT in R98 million Aquilon buy

 

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Adapt IT buys telco billing firm for R200 million