iOCO Back on Acquisition Trail

South African technology provider iOCO has made its second acquisition in just four months, signaling a strategic shift after years of restructuring. The company agreed to buy Astraia Technology, an ERP software specialist, adding another service offering for clients.

iOCO, formerly known as EOH, had paused acquisitions for nearly eight years while focusing on cleaning up past issues and rebuilding investor confidence. This latest deal follows the March purchase of MySky Group, marking a clear return to growth through acquisition.

Why This Matters

The two acquisitions demonstrate iOCO’s financial strength and renewed focus on expanding its service portfolio. With revenue up 3.5% to R2.8 billion ($169 million) in the first half of fiscal year 2026, the company has the resources to pursue strategic deals.

iOCO provides essential IT services for banks, retailers, and government agencies across Africa, helping them modernize technology infrastructure and manage digital operations.