Motswedi buys control of JMR

By Iain Scott, ITWeb group consulting editor
Johannesburg, 22 Aug 2003

Black IT company Motswedi has acquired a controlling stake in JMR Software for an undisclosed sum.

Motswedi says its 50.01% shareholding in JMR will increase its resource and skills capacity by an additional 3 000 skilled IT professionals.

It will also bring it closer to realising its targeted R1 billion turnover in the next few years, based on the premise that it exceeds the black economic empowerment (BEE) status prescribed in the new BEE Act.

Motswedi will not absorb JMR but run it as a subsidiary - Motswedi JMR - with JMR founder Mike Richards as CEO. Four Motswedi directors will join the subsidiary`s board.

"JMR Software has a 17-year track record of delivery in major IT projects both locally and internationally," says Motswedi chairman Joe Tsotetsi.

"It has a formidable skill set ranging from mainframe, client server to Internet, which has been successfully implemented in major client projects. This increased capacity will allow us to take on major government and corporate tenders."

Founded in 1994, Motswedi specialises in the design, development and implementation of information systems.