Paracon joins Adcorp to boost ICT infrastructure in SA
7 September 2011
South Africa (SA) could see its ICT infrastructure improve after it was announced that Paracon has joined Adcorp.
The recruitment agency Adcorp submitted a proposal for R662 million (£57.95 million) for the information technology firm Paracon and an agreement between the two has been made, which could result in an improvement in the country's ICT sector.
Chief executive officer for Paracon Mark Jurgens said the deal is a "win-win" for both organisations.
He stated: "Paracon's strong position in the local ICT contracting market has helped drive a track record of consistent growth demonstrating the group's resilience even in the recent tough environment."
Chief executive of Adcorp Richard Pike told Summit TV that the combined collective revenue of the two firms would be R4.5 billion, indicating the impact this contract could have.
Mr Pike went on to say this move will fill the gap at Adcorp, as it does "everything from blue collar right through white collar to clerical" but does not have much standing with regard to ICT recruitment.