InfoWave merges with Adapt-IT - The beginning of something great...

InfoWave is delighted to announce that we have merged with our black-owned and managed associate, Adapt-IT Pty Ltd. Under the terms of the agreement, InfoWave Holdings will acquire 67% of Adapt-IT in a share transaction worth approximately R11,7m.  InfoWave Holdings will change it’s name to AdaptIT Holdings Ltd, subject to shareholder approval. Adapt-IT Managing Director, Sbu Shabalala, has been appointed as the group CEO, whilst Tiffany Dunsdon, previous CEO of InfoWave Holdings, will become Commercial Director of the group.

Our organisation is evolving into a new, stronger entity, better positioned to take advantage of market conditions and set for even greater success and growth.

“With InfoWave and Adapt-IT joining forces we are enhancing the group’s capabilities and capacity to deliver to our customers and to grow shareholder value”, Dunsdon said.

The purpose of the merger is not only to diversify the group but to take advantage of new market opportunities in South Africa and to extend the service offerings to our existing customers, as well. The merger improves black shareholding to 37.8%.  We know that the entire group will benefit from and grow as a result of the successful entrepreneurial spirit of Sbu Shabalala and the Adapt-IT (Pty) Ltd team.

Shabalala began his relationship with InfoWave as a software developer and continued with InfoWave Holdings providing the seed capital and support services for him to found Adapt-IT, a black owned IT SMME.  Adapt-IT has grown into a successful provider of innovative information management solutions based on best practise open source and proprietary platforms. Shabalala will now spearhead the merged entity and launch it into a new era of growth.

 “This merger will give us the ability to offer broader services and products beyond our current niche markets. It also provides the opportunity of leveraging synergies in terms of our diverse IT skills and talents within the group, and will go a long way to contributing to KwaZulu Natal as a significant IT hub in South Africa,” commented Sbu Shabalala.  

See InfoWave Acquisition Announcement...