Fast-growing JSE-listed Adapt IT has acquired 100% of the equity of AspiviaUnison, a cloud telecommunications service provider, in a deal worth as much as R200m.
The Durban-based Adapt IT will acquire all intellectual property and technology developed by AspiviaUnison and will allow it to grow its customer base in financial services and elsewhere.
“AspiviaUnison has a robust entrepreneurial management team and generates strong annuity income from the cloud-based solution set,” said Adapt IT CEO Sbu Shabalala in a statement.
“The invaluable IT vendor partnerships AspiviaUnison has formed to date will be a crucial part of the growth strategy and we are excited by the possibility to extend these to our customer base in South Africa and into the rest of Africa,” he said.
Founded 14 years ago, AspiviaUnison provides telecoms management services, including mobile device spend management solutions.
“Adapt IT is already a strong leader in the software sector, representing Microsoft, SAP, IBM and Oracle, and the AspiviaUnison acquisition will be highly complementary, enhancing the overall Microsoft capability of the group,” said Shabalala.
The maximum purchase price of R200m, payable in both cash and Adapt IT shares, will be paid if AspiviaUnison meets a number of profit warranties and other conditions. — (c) 2014 NewsCentral Media