Apr 07 2021

Adapt IT receives R1bn cash offer from Canadian firm

by Mudiwa Gavaza
Software company Volaris Group offers R6.50 a share in all-cash bid for SA tech group Technology group Adapt IT, which recently had a takeover bid by telecoms company Huge Group, has received an all-cash offer for its business from a Canadian software company. On Wednesday, Adapt IT said it had received an offer for 100% of its shares by Volaris Group. The company has offered R6.50 a share, which represents a premium of 56.3% to the closing price of Adapt IT's shares as at April 1. Adapt IT, which provides software solutions to the education, manufacturing, energy, financial services, communications and hospitality sectors, had been subject to an R800m takeover bid from Huge Group in the first quarter of this year. The new offer values Adapt IT at about R1bn, while its market cap stood at R640.4m on Wednesday. Adapt IT said the deal with Volaris would result “in a well-governed diversified SA technology company with high growth ambitions being backed by a well-capitalised leading...Read More
Mar 10 2021

Adapt IT looks to return to strategy of acquisition growth

by Simon Brown
Viv Govender of Rand Swiss on the market after local GDP numbers. Adapt IT CEO Sbu Shabalala on decent interim results as annuity income grows. AfroCentric CEO Ahmed Banderker on diversity boosting its interim results....Read More
Mar 10 2021

Sit tight, says Adapt IT

by Stephen Gunnion
...Read More
Mar 10 2021

BUSINESS MAVERICK: Adapt IT bounces back — and now has to deal with an unsolicited offer from Huge Group

by Daily Maverick
BUSINESS MAVERICK: Adapt IT bounces back — and now has to deal with an unsolicited offer from Huge Group Small-cap shares are a bit unloved on the JSE right now, but software company Adapt IT has survived the tough climate of 2020 and is aiming for growth. Shareholders and unwelcome suitors have noticed. It took small-cap software company Adapt IT a lot longer to recover from the beating that listed shares took in March 2020. That was when investors took fright at the looming coronavirus pandemic, causing global markets and the JSE to plunge by 25% or more over four days. While markets had almost fully rebounded by late July, Adapt IT was still hovering at R1.17 in late September, well off the R3.70 at which it started the year.But that changed in the same month when the company released its results for the year to 30 June 2020 which reassured investors that it was not going down the tubes, it was cash-flow positive and could manage its debt. Don't want to see ads?Since then the share...Read More
Mar 09 2021

With debt under control, Adapt IT plans a return to acquisitions

by Duncan McLeod
Sbu Shabalala...Read More
Mar 09 2021

Adapt IT debt strategy pays off, cuts debt interest by R8m

by Samuel Mungadze
Adapt IT CEO Sbu Shabalala...Read More