Adapt IT to accelerate its organic growth through innovation

JSE-LISTED software provider Adapt IT in the year ahead will continue to position itself in targeted sectors by accelerating organic growth through innovation, while pursuing an acquisition strategy targeted at companies that own differentiated software.

“Our software reach will be extended across the rest of Africa and international markets, extending our reach beyond the 53 countries we service worldwide,” the group said on Friday.

The acquisitive nature of the company has yielded good results by contributing 30 percent to its results for the year to June released last week.

The biggest contribution to the acquisitive growth was mainly of the Micros South Africa hospitality group acquisition, which was consolidated with effect from July last year.

Micros has a team of more than 300 employees providing solutions for the hospitality industry. The hospitality division supports business critical processes through providing best-of-breed software solutions to 4 200 hotel, retail and food and beverage outlets in 18 countries.

At the beginning of June Adapt IT also acquired the LGR group. LGR is a specialist solutions provider with an exclusive focus on the global telecommunications industry providing and managing endto-end data warehouse and business intelligence systems at leading international operators, bolstering the communications product offering.

Adapt IT’s Service Provider Solutions (SPS), which is the division into which LGR will be integrated, is focused on providing solutions to the Mobile Carrier Network segment.

In its results last week, turnover increased 36 percent to R1.35 billion. Organic growth from continuing operations being 13 percent .

Headline earnings per share were up 14 percent to 66.97 cents, from 58.76c in 2017.

Adapt IT shares closed 6.15 percent higher on the JSE on Friday at R7.59.