Announcement

3rd January 2012

Adapt IT Holdings acquires 100% in Business Intelligence software specialist BI Planning Services

Leading innovative IT services and specialised solutions provider, Adapt IT Holdings Limited has acquired 100% of BI Planning Services (Pty) Limited (“BIPS”) with effect from 1 January 2012. The deal, worth R17.25 million, sees the existing BIPS management team and staff retained and is in line with the company’s stated acquisitive growth strategy.

BIPS develops and implements tailored Business Intelligence solutions for the Financial Services, Healthcare, Telecommunications and other sectors.

Adapt IT Holdings CEO, Sbu Shabalala says the transaction strengthens the Group’s value proposition to customers as all customers can benefit from enhanced Business Intelligence. BIPS is a successful, fast growing business with highly skilled IT professionals. The acquisition strengthens the diversified portfolio of software solutions and services within the Adapt IT Group. “While we will continue to grow organically, acquisitions form an important part of our overall growth strategy. Concluding this deal with BIPS makes both strategic and operational sense for the Group. The acquisition results in the strengthening of BIPS’ B-BBEE ownership, management and control credentials and Adapt IT Holdings’ presence in Gauteng”

Jannie Strydom, Managing Director of BIPS says that the company brings with it over 10 years of Business Intelligence and related IT experience with a proven track record in the Financial Services Sector, amongst others and a client base in excess of 15 Blue Chip clients. BIPS is certified in IBM and Microsoft technologies as well as being Isett Seta accredited. “In addition to Business Intelligence, BIPS has also expanded into related services on the back of client demand. Services such as expert resources, recruitment and training.” Strydom says the deal will assist Adapt IT Holdings to extend services to existing clients and further diversify both from an industry sector perspective and regional standpoint

Says Tiffany Dunsdon, Commercial Director responsible for concluding the acquisition, “We are delighted to have concluded this agreement to further our strategic objectives for the group”.