JSE AltX-listed DVT Holdings has acquired 100% of Cape-based Emerald Consulting for an unspecified sum of cash and shares. Emerald Consulting is one of South Africa's leading providers of software and related services to the legal sector, with five out of the seven largest South African legal firms on its books.
"We have known Emerald for a few years and they are a stable company, performing strongly within their chosen sector," says DVT CEO Chris Wilkins. "They fit in very well with our strategy of growth through entering niche markets with specialised solution providers. The acquisition will be cash-generative and earnings-enhancing from Day One. We have acquired the company on terms favourable to DVT Holdings."
Emerald Consulting, founded in 1999, markets the Elite Practice Management suite of products. This suite is in use in two-thirds of the global legal profession. The company's client base includes Edward Nathan Sonnenbergs, Webber Wentzel, Bowman Gilfillan, Glyn Marais and Bell Dewar & Hall. Non-legal clients include Alliance Group.
The company's consultants have diverse and complementary skills in finance, people management, technology, software development and business strategy.
Emerald Consulting MD Hanri Edwards says DVT is a perfect fit to help Emerald grow to the next level.
"As part of a listed entity, we will enhance our chance of securing business with potential clients," says Edwards. "DVT and Emerald are both in the IT services market, and our clients are in constant need of development work, which DVT can fulfil. We expect this move to stimulate both our and DVT's growth."
Emerald Consulting will retain its name and branding, and all staff will be retained.
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