In line with its plan last year to go on the acquisition trail, InfoWave has acquired 73.8% of ApplyIT from SA Bioproducts.
KwaZulu-Natal-based InfoWave, a listed IT software and services company, said late last year that it was actively looking at local companies to buy.
In a statement released late yesterday, InfoWave said its acquisition of 73.8% of ApplyIT brings it new blue-chip customers such as Samancor Manganese, Mondi Shanduka Newsprint, AECI, Clover and Blendcor in the manufacturing sector, as well as specialised skills and technology.
To date, InfoWave`s major client has been the SA Sugar Association.
"The acquisition provides InfoWave with a broader market outside the sugar industry, and a new range of software products to manage safety, plant maintenance and operations in the manufacturing sector," says Cindy von Pannier, InfoWave sales and marketing director.
ApplyIT, a Microsoft partner, provides InfoWave with a new technology platform, allowing InfoWave, an Oracle certified partner with over 75 employees, to broaden its offerings to clients.
InfoWave CEO Tiffany Dunsdon says the company will continue to look for opportunities to grow through strategic acquisitions and organic growth, with a focus on niche software.
"We have made significant investments over the past two years in employment equity and training, exceeding our goals with a current complement of 60% black employees and 25% black ownership."
As part of this acquisition, InfoWave will sell 10% of its stake to black shareholders resulting in ApplyIT being 26% black owned.
ApplyIT will continue to operate independently and retain its trading name.
In a separate initiative, InfoWave has formed InfraSoft with black partners Senzokuhle Investments and Ciko Technologies. The new company focuses on the marketing of DevMan property management software, for the delivery of housing and infrastructure projects in local, provincial and national government.
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