Consulting, research and contracting company IQbusiness has acquired a controlling stake in business services company ITQ Business Solutions (ITQ), which focuses on software support, consulting and development in key growth sectors.
IQbusiness CEO Adam Craker says the acquisition will serve to deepen the company’s capabilities, which have been focused on meeting the growing advisory needs of Africa’s professionals in the financial services, banking, insurance, retail and telecommunications industries.
The acquisition, he says, signals the start of a “new impetus” for growth in business service offerings in South Africa, which has been “plagued” by negative news. “We have amazing talent and expertise here in South Africa and I am thrilled that, together with the ITQ team, we can harness that in the right direction.”
The ITQ group provides services to businesses in key growth sectors, such as the financial services, insurance and healthcare sectors.
ITQ is able to help firms develop and realise essential digitalisation goals by providing custom-built software and proprietary solutions through technologies such as Java, Microsoft and Oracle.
ITQ director Marc Schrader says the acquisition means IQbusiness is able to bring 250 software developers from ITQ into its fold. “We are ready to add our specialist skills as the economy responds to demands for expert digital and technological solutions.”
IQbusiness also owns South Africa-based insights and market research companies Genex Insights and nudge.
Together with the ITQ group, all combined businesses now employ a professional staff complement of over 1 000, with plans to further expand their footprint at both a local and international level.
IQbusiness believes the strategic merger will create a significant number of opportunities for sustainable job creation and economic growth through local and global business services.
Through this acquisition, IQbusiness says it has cemented its position as a significant South African independent management and technology consultancy.