IOCORE today announced that it has sold off its SAP and Oracle divisions and that it will continue as a global organisation, providing services to the IT sector under the IOCORE brand.
IOCORE sold its SAP division to Internet Solutions and its Oracle competency to New Dawn Technologies. The company will continue to provide IT-related services in the local market and is currently defining a growth strategy going forward. According to Duncan Simpson-Craib, chairman and founder of IOCORE, this strategy will involve both organic growth and potential acquisitions where appropriate.
"We stated some time ago that consolidation, specifically with SAP and Oracle technologies, was required in the local market. The transactions have achieved this and have also addressed another very important factor, namely black economic empowerment," says Simpson-Craib.
Angus Macrobert, CEO of Internet Solutions, says: "Internet Solutions bought IOCORE`s SAP division as a strategic and natural extension to our managed hosting offerings; hence the need to move into managed application hosted solutions."
New Dawn Technologies, a majority black-owned and managed company bought IOCORE`s Oracle competency to make it the largest Oracle partner in SA. Says Elijah Mahlangu, CEO of New Dawn Technologies: "This gives us a greater execution capability and the opportunity to unlock further value of an experienced IOCORE team."
Says Simpson-Craib: "IOCORE has enjoyed long-term relationships with IS and New Dawn Technologies, and I am confident that we will continue to work together in the future."
IOCORE`s focus in the short term is to strengthen its remaining business interests, namely the general provision of IT services, hardware-related sales and services, and the sale and implementation of specific software products.
Share
IOCORE is a global organisation of top IT intellect delivering business benefit through IT services.
Editorial contacts