iOCO has entered into a deal to acquire 100% of the issued share capital of Astraia Technologies Proprietary Limited, a cloud-based enterprise resource planning (ERP) service provider. <\/p>\n\n\n\n
Astraia is a founder-led company that also provides financial software integration and business process
optimisation.<\/p>\n\n\n\n
The deal is expected to improve iOCO’s infrastructure and managed services capabilities, while also expanding its access into enterprise customers and vendor ecosystems.<\/p>\n\n\n\n
“The strategy of making smaller acquisitions that can access iOCO’s diverse and broad platform allows immediate scalability across products and customers,” said Rhys Summerton, CEO of iOCO. <\/p>\n\n\n\n
“We see the opportunity to accelerate iOCO’s growth with our acquisition strategy”.<\/p>\n\n\n\n
The deal’s value has not been disclosed to the market. A performance-based earn-out consideration may also become payable, subject to the achievement of growth targets over an 18-month period. <\/p>\n\n\n\n
The deal is expected to become effective within six weeks of the date of the binding agreement, which is subject to several conditions precedent. <\/p>\n\n\n\n
The deal was made on a voluntary basis and was not a categorisable transaction as per JSE Listing Requirements. <\/p>\n","protected":false},"excerpt":{"rendered":"
JSE-listed iOCO has announced the acquisition of Astraia Technologies, a cloud-based ERP service provider. <\/p>\n","protected":false},"author":95,"featured_media":861429,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2078088357645619623","_sma_x_attempts":1,"footnotes":""},"categories":[33],"tags":[14402],"class_list":["post-866643","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cloud-hosting","tag-ioco"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866643","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=866643"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866643\/revisions"}],"predecessor-version":[{"id":866645,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/866643\/revisions\/866645"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/861429"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=866643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=866643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=866643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}