--- title: News | Samuel Mungadze description: Adapt IT in the news --- [![Adapt IT Logo](https://www.adaptit.com/hs-fs/hubfs/Images/Adapt%20IT%20Logo.png?width=120&height=33&name=Adapt%20IT%20Logo.png "Adapt IT Logo")](https://www.adaptit.com/) - [Home](https://www.adaptit.com) - [About](https://www.adaptit.com/about-us) - [Executives](https://www.adaptit.com/directorate) - [People Connect](https://www.adaptit.com/careers) - [Working at Adapt IT](https://www.adaptit.com/careers#working-at-adaptit) - [Vacancies](https://adaptit.ci.hr) - [Learnerships](https://www.adaptit.com/careers#Learnerships) - [Bursaries](https://www.adaptit.com/careers#bursaries) - [History](https://www.adaptit.com/history-timeline) - [Partners](https://www.adaptit.com/partners/) - [Compliance](https://www.adaptit.com/investor-compliance) - [Governance](https://www.adaptit.com/corporate-governance) - [Acquisitions](https://www.adaptit.com/acquisitions) - [Services](https://www.adaptit.com/services) - [Admin, Support & ERP](https://www.adaptit.com/improving-our-clients-admin-support) - [Core Business Operations](https://www.adaptit.com/improving-our-clients-core-business-operations) - [Customer Experience](https://www.adaptit.com/improving-your-customer-experience) - [EPM Services](https://epm.adaptit.tech/) - [Public Sector](https://www.adaptit.com/improve-public-sector-delivery) - [Product & Services Brochure](https://hubs.la/Q03_TL1C0) - [Industries](https://www.adaptit.com/industries) - [Education](https://www.adaptit.com/education) - [Manufacturing](https://www.adaptit.com/manufacturing) - [Finance Professionals](https://www.adaptit.com/finance-professionals) - [Heavy Industries](https://www.adaptit.com/energy) - [Multi-Industries](https://epm.adaptit.tech/) - [Telecommunications](https://www.adaptit.com/telecommunications) - [Hospitality and Consumer Markets](https://www.adaptit.com/hospitality-consumer-markets) - [Security and Services](https://www.adaptit.com/security-services) - [Public Sector](https://www.adaptit.com/public-sector) - [ESG Sustainability](https://www.adaptit.com/sustainability) - [Empowerment](https://www.adaptit.com/empowerment) - [ESD](https://www.adaptit.com/esd) - [ESD Blog](https://www.adaptit.com/esd/esd-blog) - [Ethics](https://www.adaptit.com/ethics/) - [CSI](https://www.adaptit.com/csi/) - [Sustainability Reports](https://www.adaptit.com/sustainability-reports) - [JSE Archive](https://www.adaptit.com/archives) - [Corporate Action](https://www.adaptit.com/corporate-action) - [Investor Dashboard](https://www.adaptit.com/investor-dashboard) - [Reports](https://www.adaptit.com/investor-reports-new) - [Presentations and Webcasts](https://www.adaptit.com/investor-presentations/) - [Results Coverage](https://www.adaptit.com/results-coverage) - [Shareholder Meetings](https://www.adaptit.com/shareholder-meetings) - [2021 King IV Application Register](https://www.adaptit.com/hubfs/investor/Adapt%20IT%202021%20KING%20IV.pdf?hsCtaTracking=52f71e47-4437-4bcd-9615-0db5833e38f0%7C61b6fb17-ee5c-44fb-8cb9-ae0f9b1bf8e1) - [Media](https://www.adaptit.com/media) - [News](https://www.adaptit.com/news) - [Press Releases](https://www.adaptit.com/press-releases) - [Blogs](https://www.adaptit.com/blogs) - [Contact](https://www.adaptit.com/contact-us) Search This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. Submit Clear # News Filter by Month: --ALl-- Janaury February March April May June July August September October November December This is a search field with an auto-suggest feature attached. - There are no suggestions because the search field is empty. ### Recent Posts - [Adapt IT partners with Dext to bring leading bookkeeping automation to the Africa](https://www.adaptit.com/news/adapt-it-partners-with-dext-to-bring-leading-bookkeeping-automation-to-the-africa) - [Adapt IT expands hospitality role with Spa Guru](https://www.adaptit.com/news/adapt-it-expands-hospitality-role-with-spa-guru) - [Canada’s Volaris taps Adapt IT executives in leadership reshuffle](https://www.adaptit.com/news/canadas-volaris-taps-adapt-it-executives-in-leadership-reshuffle) - [Adapt IT appoints new CEO](https://www.adaptit.com/news/adapt-it-appoints-new-ceo) - [Adopt-A-School Foundation Celebrates Its National Matric Top Achiever From a Rural Limpopo School](https://www.adaptit.com/news/adopt-a-school-foundation-celebrates-its-national-matric-top-achiever-from-a-rural-limpopo-school) - [And the winner is… Announcing the Moodle Certified Partner Awards 2024](https://www.adaptit.com/news/announcing-the-moodle-certified-partner-awards-2024) - [ADAPT IT: Specialised Solutions Help Clients Achieve More](https://www.adaptit.com/news/adapt-it-specialised-solutions-help-clients-achieve-more) - [Adapt IT seeks software business targets in Europe, Africa – CEO](https://www.adaptit.com/news/adapt-it-seeks-software-business-targets-in-europe-africa-ceo) - [South Africa’s favourite IT service providers](https://www.adaptit.com/news/south-africas-favourite-it-service-providers) - [Raspberry Pi 400 handover at Lodirile Secondary School](https://www.adaptit.com/news/raspberry-pi-400-handover-at-lodirile-secondary-school) ## Samuel Mungadze ### Recent Posts Jul 01 2021 ### [Majority of Adapt IT shareholders support Volaris takeover bid](https://www.adaptit.com/news/majority-of-adapt-it-shareholders-support-volaris-takeover-bid) by Samuel Mungadze Adapt IT shareholders yesterday voted overwhelmingly in favour of Canadian software group Volaris’s buyout offer. Yesterday, shareholders adopted all resolutions set out in Adapt IT’s notice of general meeting with regards to the Volaris cash offer of R7 per Adapt IT share, including delisting from the JSE following the implementation of the transaction, if required. Some 69.82% of Adapt IT shareholders, holding 95 834 979 shares, voted in a move that has now sealed the fate of the Huge Group bid. The two companies, Huge Group and Volaris, have been aggressively pushing Adapt IT shareholders to accept their respective offers. The Volaris offer accepted by majority shareholders yesterday was tabled last month after rival suitor Huge Group presented Adapt IT shareholders with a fresh offer of R9.09 per share from the initial R5.52. The offer price baiting followed recommendations by Nodus Capital, which Adapt IT appointed to evaluate the bid, that a fair price range for Adapt IT is R7...[Read More](https://www.adaptit.com/news/majority-of-adapt-it-shareholders-support-volaris-takeover-bid) Jun 07 2021 ### [Volaris tables fresh offer in Adapt IT buyout race](https://www.adaptit.com/news/volaris-tables-fresh-offer-in-adapt-it-buyout-race) by Samuel Mungadze Canadian software group Volaris has increased its cash offer for Adapt IT in response to rival suitor Huge Group’s bid. The company announced a new, improved offer of R7.00 per Adapt IT share, up from the previous R6.50. It says this represents a premium of 68% to the closing price of Adapt IT shares of R4.16 on 1 April 2021, being the last trading date prior to the date on which Volaris and Adapt IT entered into the Volaris offer agreement. The Volaris offer came a week after Huge Group presented Adapt IT shareholders with a fresh offer of R9.09 per share from the initial R5.52. The latest development comes after Nodus Capital, which Adapt IT appointed to evaluate the bid, concluded that a fair price range for Adapt IT is R7.00 to R9.09 per Adapt IT share. Huge Group responded first with a measurable offer of R9.09 per share, but on Friday, Volaris also tabled its improved offer. “The Volaris offer presents an opportunity for Adapt IT shareholders to realise their investment for a...[Read More](https://www.adaptit.com/news/volaris-tables-fresh-offer-in-adapt-it-buyout-race) May 31 2021 ### [Focus in Adapt IT takeover shifts to Volaris as Huge tables new offer](https://www.adaptit.com/news/focus-in-adapt-it-takeover-shifts-to-volaris-as-huge-tables-new-offer) by Samuel Mungadze Huge Group CEO James Herbst Focus in Adapt IT takeover has shifted to Canadian software group Volaris after rival suitor Huge Group dramatically upped its bid on Friday. The James Herbst-led Huge, which is aggressively trying to lure Adapt IT shareholders, tabled a new goodly offer of R9.09 per share from the initial R5.52 cents. This is based on increasing the swap ratio of Huge Group shares offered per Adapt IT share from 0.9 to approximately 1.37 Huge shares, the company said. The Adapt IT independent board now has five business days to respond to Huge Group’s offer, and provide its opinion to shareholders. The latest move by Huge Group comes less than two weeks after Adapt IT shareholders were advised to reject the telecoms specialist’s initial offer. Nodus Capital, which Adapt IT appointed to evaluate the bid, concluded that a fair price range for Adapt IT is R7.00 to R9.09 per Adapt IT share. Accordingly, the company considered Huge Group offer being unfair and unreasonable to...[Read More](https://www.adaptit.com/news/focus-in-adapt-it-takeover-shifts-to-volaris-as-huge-tables-new-offer) Mar 09 2021 ### [Adapt IT debt strategy pays off, cuts debt interest by R8m](https://www.adaptit.com/news/adapt-it-debt-strategy-pays-off-cuts-debt-interest-by-r8m) by Samuel Mungadze Adapt IT CEO Sbu Shabalala...[Read More](https://www.adaptit.com/news/adapt-it-debt-strategy-pays-off-cuts-debt-interest-by-r8m) Oct 26 2020 ### [Adapt IT prioritises debt repayment, withholds dividend](https://www.adaptit.com/news/adapt-it-prioritises-debt-repayment-withholds-dividend) by Samuel Mungadze JSE-listed software services firm Adapt IT says it prioritised the reduction of borrowing and preserving cash for the financial year ended 30 June, and as a result, no dividend was declared. The company says it has shown resilience in a year most businesses were affected by the COVID-19 pandemic and other macro-economic factors. Adapt IT says the tough trading conditions in SA were a catalyst for it to drive operational improvements through significant cost reduction and containment measures in segments most impacted by COVID-19. It says most operational efficiency projects have been completed, which will result in cost savings in future financial periods. “The business cost structures where the market landscape has changed have been right-sized for the current market,” says the organisation. Adapt IT derives almost three-quarters of its revenue from SA. Turning to its debt management strategy, it says net gearing was reduced to 43% from 66%, and all debt covenants were met at 30...[Read More](https://www.adaptit.com/news/adapt-it-prioritises-debt-repayment-withholds-dividend) - 1 © 2025 Adapt IT Holdings Proprietary Limited. 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