Iocore has sold its SAP and Oracle divisions two months after information about its plans to dispose of the businesses was leaked to the media.
The SAP division has been sold to Internet Solutions, while the Oracle competency was bought by New Dawn Technologies. The value of the deals has not been disclosed.
The group says that after the sale it will continue as a global organisation, providing services to the IT sector under the Iocore brand.
Plans to sell the divisions first came to light in February when ITWeb came into possession of an internal memo Iocore chairman Duncan Simpson-Craib sent to staff.
New Dawn Technologies is a majority black-owned and managed company. Iocore says that after acquiring the Oracle competency, New Dawn is now the largest Oracle partner in SA.
"This gives us a greater execution capability and the opportunity to unlock further value of an experienced Iocore team," says New Dawn CEO Elijah Mahlangu.
Internet Solutions CEO Angus MacRobert says the acquisition of Iocore`s SAP division is a strategic extension to Internet Solutions` managed hosting offerings.
"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."
He says Iocore is defining a growth strategy which 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."
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Iocore to sell SAP and Oracle businesses
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