Shares in Alviva Holdings jumped more than 18% in intraday trading on Thursday morning after the ICT distribution group said full-year earnings per share are likely to nearly double.
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Alviva Holdings has secured the regulatory go-ahead for its R185-million acquisition of rival Tarsus Technology Group.
Technology group Alviva Holdings reported a 17% improvement in headline earnings per share in the six months ended 31 December 2020 but warned of further uncertainty ahead.
Tarsus Technology Group, the ICT distributor that is currently the subject of a takeover bid by Alviva Technology Holdings – the parent of Axiz and Pinnacle – has appointed Anton Herbst as its new CEO.
Tarsus Technology Group CEO Miles Crisp and financial director Joanne Tanner are stepping from the technology distribution company amid a R185-million takeover bid by JSE-listed Alviva Holdings.
Technology group Alviva Holdings said on Thursday that it has agreed to buy rival Tarsus Technology Group for a maximum consideration of R185.4-million in cash.
Five hours after TechCentral broke the news on Tuesday morning that JSE-listed Alviva Holdings is in talks to buy rival Tarsus, the company has confirmed a deal is in the offing.
South Africa’s largest technology distribution group, JSE-listed Alviva Holdings, is in talks to acquire rival Tarsus, well-placed sources have told TechCentral.
Alviva Holdings, the JSE-listed parent of technology companies such as Axiz, Pinnacle and Datacentrix, has reported a 50% decline in full-year headline earnings per share but will pay a dividend of 15c/share.
Alviva Holdings said on Wednesday that it’s full-year headline earnings will fall by more than 50%, though it said its prospects have improved since a disappointing set of interim results earlier this year.