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Biz Community Writer
Recent Posts
Jan 04 2022
Adapt IT acquired by Volaris Group, delists from JSE
by Biz Community Writer
Adapt IT has been acquired by the Volaris Group for R7 per Adapt IT share. Volaris is a wholly-owned subsidiary of Constellation Software, a Canadian listed entity. Image Supplied All conditions and regulatory approvals have now been met, including approval from various competition authorities, the Takeover Regulation Panel as well as the JSE. The deal was also conditional on Volaris acquiring more than 50% of Adapt IT shares. Volaris has acquired 63,87% of Adapt IT. Pursuant to the implementation of the deal, Adapt IT will delist from the JSE with effect from 4 January 2022. “The acquisition is a wonderful South African success story. Adapt IT was founded in 1996, the business was listed in 1998 and successfully grew its customer base to more than 10,000 customers in 55 countries around the world. With this acquisition, Adapt IT will have the opportunity to expand to many more countries and customers around the globe,” says Tiffany Dunsdon, CEO of Adapt IT. The acquisition results in...Read More
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