Published 16 May 2018, by Nick Hedley

Ayo Technology Solutions said on Tuesday it was in advanced discussions on several deals and on track to capture up to 8% of SA’s information and communication technology market by 2022.

“Management remains confident that the forecasts in the prelisting statement to 2019 remain achievable, given new contracts and the expected acquisitions that Ayo will be announcing,” said the company, which listed on the JSE in December.

In the six months to February, Ayo’s revenue increased 49% to R349m while operating profit rose 55% to R45m.

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