A number of companies – BI Planning Services (BIPS), ITS Abacus, ITS Africa Technologies, ITS Holdings, ITS Tertiary Software and Synet – are to be amalgamated into AdaptIT, which will become the holding company for them all.
This is effective from 1 July, and is designed to rationalise the ApaptIT group, reducing the number of entities.
The amalgamation is also expected to achieve efficiencies and savings in administration and operational expenditure, while reducing the AdaptIT group structure.
The new organisation will have three separate reporting divisions:
* The Johannesburg division, consisting of the assets and liabilities previously held by BIPS;
* The Pretoria division, consisting of the assets and liabilities previously held by ITS Abacus, ITS Holdings, ITS Tertiary Software, ITS Africa and Synet, as well as assets in ITS Australasia and ITS Europe; and
* The Durban division, consisting of the assets and liabilities previously held by Adapt IT.