Adapt IT looks out­side SA

Diver­si­fy­ing in dif­fi­cult times is the way to main­tain mo­men­tum, says chief ex­ec­u­tive

Sunday Tribune - - BUSINESS REPORT - SANDILE MCHUNU sandile.mchunu@inl.co.za

JSE-LISTED ICT com­pany Adapt IT has cast its eyes out­side South Africa to re­alise its growth po­ten­tial as the coun­try strug­gles with low eco­nomic growth.

Chief ex­ec­u­tive Sbu Sha­bal­ala says diver­si­fy­ing in these dif­fi­cult times is the best way for the group to main­tain its growth mo­men­tum.

“The mar­ket has been tough in South Africa and we have looked be­yond our borders for op­por­tu­ni­ties, to mar­kets where growth is bet­ter than ours.

“We see the po­ten­tial in East Africa and we have en­tered the mar­kets in Kenya and in the West with Nige­ria.

“There is def­i­nitely a mar­ket for our soft­ware and there is a huge de­mand,” Sha­bal­ala said.

Adapt IT an­nounced the ac­qui­si­tion of the Conor Group in a trans­ac­tion worth R80mil­lion to strengthen the Adapt IT Tele­coms so­lu­tions divi­sion at the be­gin­ning of the week.

“This ac­qui­si­tion is im­por­tant for the group and it is a busi­ness that has been do­ing well in the tele­coms space. It has ground­break­ing tech­nol­ogy in the area of fi­nan­cial tech­nol­ogy.

“So we de­cided to ac­quire an al­ready suc­cess­ful busi­ness in­stead of build­ing our own from scratch,” Sha­bal­ala said.

Conor was founded in 2007 and em­ploys 60 pro­fes­sion­als. It pro­vides high-per­for­mance tele­phone com­pany 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. Sha­bal­ala added that the busi­ness gave Adapt IT foot­prints in other ge­ogra­phies where the group was not rep­re­sented.

The ac­qui­si­tion of Conor im­proved 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, en­hanc­ing op­por­tu­ni­ties to en­able our cus­tomers to achieve more,” Sha­bal­ala said.

Adapt IT is a lead­ing soft­ware provider to the ed­u­ca­tion, man­u­fac­tur­ing, en­ergy, fi­nan­cial ser­vices and hos­pi­tal­ity sec­tors, ser­vic­ing more than 10000 cus­tomers in 40 coun­tries.

The group has more than 1000 soft­ware engi­neers.

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