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The new owners have committed to establishing an education trust to benefit employees and their families Adapt IT delisted from the JSE on Tuesday after Canadian group Volaris took control of the specialist software and services group for R616m, concluding a transaction that had been mired in a bidding war. Volaris portfolio leader Michael Dufton assured Adapt IT’s employees and customers on Tuesday that the company intends to be a productive and positive force, including through the establishment of an education trust to benefit employees and their families......Read More

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

Leading South African technology firm joins global vertical software powerhouse TORONTO, Jan. 04, 2022 (GLOBE NEWSWIRE) — Volaris Group today announced that it has completed the acquisition of Adapt IT. With a talented global team, a legacy of innovation and an impressive track-record of successful acquisitions, Adapt IT positions Volaris Group for growth across Africa and beyond. “I want to assure Adapt IT’s employees, customers and stakeholders that we have every intention to be a productive and positive force in Adapt IT’s future. This is a great company, and we see potential for growth,” said Michael Dufton, Portfolio Leader at Volaris Group. “We are ready to empower Adapt IT with resources, technology and best practices to support the next phase of the company’s evolution.” Adapt IT will continue to operate as an independent business unit inside Volaris Group, under the leadership of Tiffany Dunsdon, CEO of Adapt IT. “Adapt IT was founded in South Africa in 1996, the business was...Read More

Software services firm Adapt IT has finally been acquired by Volaris Group for R7 per Adapt IT share effective 3 January 2022. Volaris is a wholly-owned subsidiary of Constellation Software, a Canadian listed entity. In a statement, Adapt IT says all conditions and regulatory approvals have now been met, including approval from various competition authorities, the Takeover Regulation Panel as well as the Johannesburg Stock Exchange (JSE). It notes that 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. Headquartered in Toronto, Volaris Group is an international provider of vertical market software and services several industries. According to Adapt IT, Volaris acquires and grows software businesses that develop specialised software solutions. The company has a presence in over 35 countries, with more...Read More

MTN Group had a barnstorming 2021. The pan-African telecommunications group, despite its size, was the best performer among technology shares in South Africa last year. TechCentral’s annual analysis of the best (and worst) performing tech shares listed on the JSE shows MTN pipped Ellies Holdings to top position with a 12-month return of a stunning 183.6%. The performance in MTN shares came as investors warmed to the group’s growth strategy, improving prospects in key markets like Nigeria, its decision to exit the Middle East, management’s focus on reducing debt, and opportunities in growth areas like fintech, among other things. Rival Vodacom Group, by contrast, eked out an 8.2% improvement in its share price in 2021. But with big corporate activity on the go, including the acquisition of Vodafone Egypt, it’ll be interesting to see whether it’s Vodacom or MTN’s share price that performs better in the year ahead. Two small-cap shares occupied the second and third positions in...Read More

Unprecedented increase in drive-thru restaurant sales in South African restaurants calls for faster, more efficient solutions for this growing channel SOUTH AFRICA, 01 December 2021 – With thousands of South African holidaymakers preparing to embark on their travels around the country this holiday season, they will be looking for safety and convenience in their fast-food experience. To deliver this, Micros South Africa, a leading hospitality and restaurant industry solutions provider has equipped the first two restaurants in the country with its new smart drive-thru point of sale solutions for fast-food outlets. The system goes live at the newly launched Pedros Flame Grilled Chicken outlet in Inanda, Kwa-Zulu Natal, along with an upgrade from an older system at Pedros Bonaero in Johannesburg, promising to establish a faster, smarter and more efficient quick service restaurant experience in the new reality of Covid-19. “Drive-thru ordering, historically seen as an ancillary (and...Read More