ACQUISITION
Adapt IT to buy telecom operator
Shares in Adapt IT closed 6.2% up at R6.71 on Wednesday after the information technology group said it would buy LGR Telecommunications for $5m. LGR operates in Mauritius, SA and Australia. It provides and manages data warehouse and business intelligence systems for telecommunications firms. LGR would be integrated into Adapt IT’s service provider solutions division, which targets the mobile carrier network sector, Johannesburg-based Adapt IT said. The acquisition would allow Adapt IT to grow its advanced network analytics operations. "LGR’s experience working with global telecommunications networks creates bi-directional cross-selling opportunities for Adapt IT, opening up foreign markets to Adapt IT’s other software products and services," the company said. The deal would diversify its revenues and geographic footprint. All revenue was denominated in hard-currency "from customers outside of SA, which creates improved revenue diversification for Adapt IT shareholders", it said. The...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.