Minotaur Holdings, the diversified IT group, has announced the formation of a new public sector-focused subsidiary following a share swap that saw the group gain a majority shareholding in Thebe Business Solutions. The new subsidiary is to head the group`s drive into the public sector domain. Financial details were not disclosed.
The contract was confirmed by Frans Prins, a director of Minotaur Holdings, who says the group has already made important inroads into the public sector over the last two years, with clients such as the Department of Land Affairs, but needed to "sharpen its focus and business approach" to take advantage of this market sector.
The absorption of Thebe Business Solutions is part of a major group reshuffle to "meet growing business challenges", which saw total solutions house, Minotaur Information Systems - essentially the flagship company within the enlarged group - undergo a major reshuffle.
This resulted in the establishment of holding company, Minotaur Holdings, as well as six separate subsidiary companies which include the already established Minotaur Information Systems, focusing on IT services such as software development, strategic planning and information management systems.
Other subsidiaries include Minotaur Integration Systems focusing on systems integration, Minotaur Consulting on recruitment, contracting and training, Chimera Systems Solutions on Web site development, Internet gateways, EFT, e-commerce, cash management, banking interfaces, data mining tools and search engines, and Thebe Business Solutions, the new public sector arm of the group.
Thebe Business Solutions is to be headed up by Malolo Thebe. In terms of the agreement, while Thebe Business Solutions falls under majority shareholder Minotaur Holdings, as a director, Thebe holds what Prins calls "strategic veto powers".
Commenting on the absorption of Thebe Business Solutions into Minotaur, Thebe says he believes the two companies brought a great diversity of talents and scope to the bargaining table, adding that one of the new company`s main aims would be to focus on winning government and parastatal contracts.
"We believe we have the make-up, talents and attributes to perform exceedingly well in this arena, especially from the point of view of offering potential clients a high level of price performance in relation to the costing and implementation of contracts."
Minotaur also boasts an offshore company, Minotaur Information Systems (UK), which was formed more than two years ago and which is active in the Internet brokerage domain and e-commerce, as well as providing integrated banking solutions.
Share