Adapt IT, which recently notified shareholders it was in talks, has now bought AspiviaUnison, a cloud telecommunications intelligence and management solutions provider, in a deal worth up to R200 million.
The deal adds another pillar to the company's growing software solutions set. Adapt IT, which is known for continuously acquiring, will add all of AspiviaUnison's intellectual property and technology to its fold.
In a statement, the listed group says the deal will enable it to "further diversify and bolster its customer base, especially in the financial services industry".
AspiviaUnison is a cloud telecommunications intelligence and management solutions provider.
Adapt IT CEO Sbu Shabalala says the acquisition will contribute meaningfully to the company's overall growth strategy: "AspiviaUnison has a robust entrepreneurial management team and generates strong annuity income from the cloud-based solution set."
AspiviaUnison director Andrew Harris adds there are synergies between the companies.
The listed company expects acquisitions to account for 25% of top line growth in the next year. In the year to June, Adapt IT's headline earnings per share leapt 55.1%, while revenue gained 33.9% to R408.5 million, and its bottom line grew from R26 million to R38.9 million. Acquisitions accounted for 17% of its top line improvement, down from the 26% reported at half year, although this is expected to improve.
Adapt IT will pay R72 million initially, and as much as R128 million if AspiviaUnison hits certain profit targets.
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