iOCO, one of South Africa’s largest technology services providers, has agreed to acquire 100% of the issued share capital of Astraia Technology Proprietary Limited, a cloud-based enterprise resource planning (ERP) services provider, as the technology company expands its business applications and managed services offering.

The value of the transaction was not disclosed. The deal includes a possible performance-based earn-out payment linked to growth targets over an 18-month period.

The acquisition is expected to take effect within six weeks of the binding agreement, subject to the completion of several conditions.

Deal expands ERP and cloud capabilities

Astraia, a founder-led technology company based in Woodstock, Western Cape, provides cloud-based business management software, financial systems integration and business process optimisation services.

The company specialises in ERP solutions, including Acumatica ERP and Sage 300 ERP, serving businesses seeking to improve their financial and operational processes.

iOCO said the acquisition will strengthen its Business Applications and ERP division, which supports platforms such as SAP, Oracle, Infor, Acumatica and SYSPRO, while extending its reach from large enterprises to growing mid-market companies.

“The strategy of making smaller acquisitions that can access iOCO’s diverse and broad platform allows immediate scalability across products and customers,” said Rhys Summerton, CEO of iOCO. “We see the opportunity to accelerate iOCO’s growth with our acquisition strategy.”

iOCO expands technology services footprint

The transaction was concluded on a voluntary basis and does not qualify as a categorisable transaction under the JSE Listing Requirements.

iOCO, one of South Africa’s largest technology services providers, employs more than 4,500 professionals and serves over 4,000 clients across Africa, the Middle East and Europe.

The company provides end-to-end information technology and operational technology services to corporate, enterprise and industrial customers in more than 40 countries.

The acquisition adds Astraia’s specialised ERP expertise to iOCO’s growing portfolio as businesses increasingly adopt cloud-based systems to manage finance, operations and digital transformation.

Astraia’s team will join iOCO following completion of the transaction, strengthening the group’s ability to deliver enterprise software solutions across a wider range of customers.