Adapt IT, through its wholly-owned subsidiaries, has entered into agreements to acquire the businesses of the Wisenet Group, as well as the business intellectual property (IP) and existing IP rights of Wakatipu Management (Wisenet SG) for at least S$5.22-million.
The Wisenet Group comprises Kura Holdings, Wisenet Information Systems (Wisenet Australia) and Wise.Net Corporate Trustee (Wisenet NZ).
Kura and Wisenet Australia will be acquired by Adapt IT Australia, Wisenet NZ will be acquired by Adapt IT NZ and Wisenet SG will be acquired by Adapt IT Solutions.
The acquisition is expected to complement Adapt IT’s education division’s growth strategy and provide Adapt IT with access to key proprietary software, customers and markets in the higher education sector in Australia.