Adapt IT CEO stands accused over violent attack in Durban home
Adapt IT CEO Sbu Shabalala
Adapt IT CEO Sbu Shabalala has been accused of hiring armed thugs to beat up his estranged wife Neo’s partner, suspended eThekwini city manager Sipho Nzuza, according to a report published on Sunday.
The Sunday Times reported (paywall) that Nzuza, who was suspended over alleged corruption in the Durban metro, was allegedly beaten up at the upmarket Zimbali residential estate near Ballito last Saturday and had to undergo emergency surgery.
The attack was reportedly so serious that Nzuza had to have his spleen and part of a kidney removed; he remains in intensive care in a Durban hospital, according to the report.
Serious armed assault allegations against Adapt IT CEO Sbu Shabalala
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Adapt IT CEO Sbu Shabalala s property deal raises questions
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Adapt IT shareholders will have to wait a little longer for Volaris Group’s acquisition offer circular, after the Takeover Regulation Panel granted the company an extension to evaluate the offer.
The local technology company has captured the interest of Canada’s Volaris, which announced its intention to procure 100% of the company on a R6.50 per share cash offer. Volaris’ offer came after one made by South African telecoms company, Huge Group, which is offering shareholders a share swap based on a reference price of R6.13 and an implied price of R5.52 per Adapt IT share.
In a statement on Friday, Adapt IT said it had appointed an independent board expert to provide an opinion on both the Volaris and Huge group offers. However, the expert is still in the process of finalising their opinion, which means Adapt IT’s independent board opinion will also be delayed.
Apr 30, 2021
SME PBX Systems and Unified Communications applications supplier Yeastar has appointed Huge Distribution as an official distributor in South Africa.
Huge Distribution is part of the listed Huge Group of Companies and specialises in the distribution of a wide range of telecommunications products and services from leading local and international vendors.
Yeastar provides cloud-based and on-premises VoIP PBXs for SMBs and delivers Unified Communications (UC) solutions that connect the workforce and clients more efficiently. Founded in 2006, Yeastar has established itself as a global leader in the industry with a worldwide network of value-added distributors and resellers and over 200 000 customers.