Johannesburg, 06 Nov 2018
JSE-listed Adapt IT Holdings (Adapt IT) today announced the acquisition of the Conor Group, in a transaction worth R80 million, to strengthen the Adapt IT Telecoms solutions division.
Conor, founded in 2007, is a fast-growing and dynamic software business that employs 60 highly skilled professionals and provides high performance telco and mobile financial service solutions, covering areas such as the core network applications, enterprise mobility, big data and analytics, and mobile payments to the telecommunications industry in 10 countries across Africa and South America.
Conor's cutting-edge micro services software stack, designed for highly scalable, highly available, and high-performance private and public cloud deployments, is used to support 2 billion mobile data transactions per day; facilitate 150 million SMS deliveries per day; 100 million USSD transactions per day; 50 million advert deliveries per day; supporting 13TB of enterprise data mobility traffic per month, for consumption by over 13 000 subscribers.
Conor CEO Chris Breytenbach is excited about the value the synergies with Adapt IT bring. He states: "The two organisations will be able to fully exploit opportunities in the local and international telco market as Conor plans to play a meaningful role in Adapt IT's telecommunications division's strategy and growth by adding relevant world-class products to the existing solution offering."
The acquisition of Conor improves Adapt IT's revenue and geographic diversification as the Conor customer base creates cross-selling opportunities in local and foreign markets for the Adapt IT telecommunications software solutions.
"The Adapt IT telecommunications division solution offering is strengthened by the Conor acquisition, with our customers benefiting from the technology synergies leveraged through this transaction, further enhancing opportunities to enable our customers to achieve more," concludes Sbu Shabalala, CEO of Adapt IT.
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