Shortly after the Covid-19 pandemic hit, Tiffany Dunsdon – at the time CEO of JSE-listed Adapt IT – found herself having to fend off an unwanted takeover bid from Huge Group.
Dunsdon did not feel the deal made much sense for Adapt IT – a fast-growing enterprise software services provider whose share price, like many others at the time, had been knocked lower by the uncertainty caused by the pandemic.
The Huge Group approach was opportunistic in light of Covid and Adapt IT’s depressed share price at the time, said Dunsdon.
So, instead of entertaining the approach from Huge Group, she set about engineering a very different deal: one involving Canadian-listed Constellation Software: Constellation subsidiary Volaris Group would buy out Adapt IT and delist it from the JSE.
Dunsdon, who was recently appointed as acquiring group leader at Omegro – a portfolio company within Volaris Group that houses Adapt IT – joins Duncan McLeod on the TechCentral Show for an update following the conclusion of the sale.
In this episode of the TechCentral Show, Dunsdon also discusses:
- Adapt IT’s performance since its acquisition and delisting;
- The Huge Group hostile approach and how that played out inside Adapt IT;
- The timeline of events that led to the acquisition by Volaris Group; and
- What’s next for Adapt IT and Omegro.
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Tiffany Dunsdon on Adapt IT’s wild year – and fighting off a hostile bidder