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Major South African software company’s sale to US investor approved

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The US investor announced that it had signed a deal to invest and acquire a majority stake in Syspro in August.

The Competition Commission has approved Advent International-owned Safari UK Holdco Limited’s proposed deal to acquire Syspro, with conditions.

However, it noted various conditions. Safari must not retrench any Syspro staff as a result of the merger within two years of the implementation date. The ERP software helps automate and integrate business processes, including scheduling operations and recording inventory and financial data. Advent International director Douglas Hallstrom said Syspro had been a target for the company for some time.

 

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