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Adapt IT acquires Conor Group in R80 million deal

Adapt IT acquires Conor Group in R80 million deal

JSE-listed Adapt IT Holdings Limited (Adapt IT) has acquired software firm Conor Group in a transaction worth R80 million to strengthen its telecoms solutions division.

In a statement Adapt IT described Conor, founded in 2007, as "a fast-growing and dynamic software business that employs 60 highly-skilled professionals and provides high-performance telco and mobile financial service solutions".

These solutions cover areas such as the core network applications, enterprise mobility, big data and analytics, and mobile payments to the telecommunications industry in ten countries across Africa and South America.

The IT firm added that Conor's micro services software stack are designed for highly-scalable, highly-available, and high-performance private and public cloud deployments.

They are said to support 2 billion mobile data transactions per day and 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.

Sbu Shabalala, CEO of Adapt IT, said the deal, which has been on the table for almost 8 months, is in line with its strategy to identify "value appreciative acquisitions" within key industries like telecommunications.

Mobile financial apps

The focus of this specific deal is on mobile financial apps and according to Shabalala it is a good opportunity to introduce these applications to help under-pressure telcos lower the cost of operations.

"This one is a cash transaction and we are utilising predominantly our ability to gear the business and raise capital to do acquisitions," he said.

Conor solutions are in use by companies in Africa and South America, and Adapt IT has centred its telecommunications play in South Africa and Australasia.

The Conor customer base creates cross-selling opportunities in local and foreign markets for Adapt IT's telecommunications software solutions.

The acquisition is expected to drive an increase in revenue as the companies exchange access to customer bases.

It will also mean the integration of Conor's 60 skilled professionals into Adapt IT's telecoms solutions division.

"They are certainly a welcome addition because obviously telco expertise is very hard to come by in the market. It enhances the value that Adapt IT can provide its clients. It creates a far more enhanced team," Shabalala added.

Conor CEO, Chris Breytenbach, said, "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."

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