Capital Appreciation Announces Acquisition Of Dariel Solutions
Capital Appreciation Announces Acquisition Of Dariel Solutions. CTA is pleased to announce that agreements have been concluded with Malcolm Rabson, Gregory Vercellotti and Wayne Yan, the founders and directors of Dariel Solutions Proprietary Limited to acquire 100% of Dariel for a total consideration of R131.2 million, to be settled by a combination of cash and an allotment of ordinary shares out of treasury shares. Dariel is the holding company of Dariel Software Proprietary Limited (Dariel Software).
CTA is a leading provider of technology-based products and solutions to enterprises in the financial service sector. CTA believes that the Acquisition is consistent with its investment philosophy of investing in established, asset-light companies that deliver innovative and disruptive FinTech solutions to mainly institutional clients. Digital transformation, as well as an acceleration in demand for electronic payments, cloud services, and related solutions continue to support robust industry growth prospects over the medium term. Given Dariel’s participation in initiatives responsive to these trends, the acquisition offers CTA further growth potential, as well as further investment and acquisition opportunities to broaden CTA’s portfolio of services. Dariel will form part of CTA’s Software division. CTA also looks forward to the potential for synergistic opportunities that Dariel will bring to the Company’s existing operating units.
Founded in 2001, Dariel is a South African IT software services provider involved in providing software, consulting, development, implementation and integration services, as well as maintenance and support, to enterprises in the healthcare, telecommunications, hospitality, mining and manufacturing sectors, with a particular focus and expertise in the financial services, insurance and “Fintech” sectors.
Dariel’s leadership position in the South African technology sector stems from its proven track record of over 22 years of helping to solve complex business problems and deliver digital transformation strategies through bespoke and highly engineered software applications and customized software integration services. It also provides cloud services, enabling customers to innovate and test new platforms on the Cloud across the major Cloud platforms including Microsoft Azure, AWS and Google Cloud Platform.
