JSE-listed Reunert has announced the acquisition of a 74.2% in local tech consultancy firm IQbusiness.
JSE-listed Reunert today announced the acquisition of a 74.2% stake in local technology consultancy firmThe transaction was done through the JSE-listed firm’s wholly-owned subsidiary Reunert ICT, and is subject to the fulfilment of suspensive conditions as well as approval by the competition authorities.
With revenue exceeding R1 billion and a team of over 1 000, Reunert says IQbusiness is a strong brand known to the market since its inception 25 years ago. The JSE-listed firm believes the acquisition of IQbusiness and its integration into Reunert ICT creates synergies for an expanded range of complementary offerings, with a significant increase in client access in both the enterprise and SME space, and improved routes-to-market through both direct and channel marketing relationships.
“This reflects their belief and motivation in the transaction and will greatly enhance the integration of IQbusiness into Reunert. Reunert recognises the value of our combined teams who will drive the business forward together.” “This acquisition supports Reunert ICT’s growth strategy and enhances our strategic vision of solving business challenges with innovative, high-tech solutions that unlock value for our clients, our companies and our shareholders,” says Graeme Eddey, Reunert ICT segment head.
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