Failure by a regulator in Zimbabwe to approve timeously the sale of JSE-listed Adapt IT to Canada’s Volaris Group is now holding up the planned transaction.
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Software services group Adapt IT eked out a 1% improvement in revenue in what will likely be its final set of results as a listed company on the JSE.
Huge Group has abandoned its efforts to play a role in the future of Adapt IT. That much is clear after it emerged on Tuesday that it has sold its 1.9% stake.
Huge Group’s efforts to acquire software services group Adapt IT appears to be all over bar the shouting. This after shareholders representing just 1.9% of Adapt IT shares accepted its offer.
Huge Group has been ordered to retract another video about its all-share offer to buy software services group Adapt IT, forcing it into an embarrassing climbdown as it works to secure the support of Adapt IT shareholders.
Three months after being forced to take down videos from its website in which it implored Adapt IT shareholders to accept its offer to buy the software services group, Huge Group has again gone on the offensive.
Businessman, entrepreneur, deal maker and advisor Duarte da Silva joins Duncan McLeod on the TechCentral podcast for a wide-ranging discussion about South Africa’s IT industry, with a specific focus on Dimension Data.
Huge Group said on Thursday that it will not meet the end-June deadline to publish its annual report and financial statements after its CEO, James Herbst, contracted Covid-19.
Volaris Group, the Canadian firm pursuing JSE-listed software services group Adapt IT, has sweetened its all-cash offer to R7/share in an effort to see off a rival bid from South Africa’s Huge Group.
Huge Group, it seems, doesn’t give up without a fight. The telecommunications specialist has dramatically increased its all-share offer for Adapt IT.