The sale of IQ Works to Reunert means The IQ Business Group can now focus on larger deals, the group says.
Reunert announced at the release of its year-end financial results this week that it had agreed to buy The IQ Business Group`s stake in IQ Works. Reunert had owned 50% of the joint venture.
"It`s a win-win deal for all parties," says The IQ Business Group CEO Chris Sinclair. Sinclair, who heads the group`s South African operations, was recently named acting group CEO after the resignation of IQ founder Johan Roets.
"While the core skills and offerings of IQ Works are, and will continue to be, fundamentally aligned to IQ`s strategy of delivering process-rich and technology-enabled solutions, there is a closer fit for IQ Works to the electronics and technology strategy of Reunert.
"The move means that IQ can now focus on the larger business process outsourcing deals that are on the table."
Sinclair says while IQ will focus on driving its industry-focused process and technology approach to market, it will continue to work with IQ Works when client projects span both businesses` offerings.
IQ Works was established in 2000 to develop and deliver products and services arising from the convergence of technology, primarily in the corporate office environment.
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