Paracon, the IT services and solutions business, is pleased to announce that it has acquired 100% of the businesses of DPC Consulting Group (Pty) Limited ("DPCC"), subject to Competition Board approval.
DPCC is a Cape Town and Johannesburg based IT company that specialises in the selection, recruitment and placement of IT professionals in South Africa.
Says Hugh Verdoorn, Managing Director of Paracon SA, "This is an extremely strategic deal for Paracon SA, especially for our IT services division, as it will not only strengthen our position in the Cape, but will give Paracon access to a broader base of clients."
DPCC has an outstanding record in the IT industry, with an impressive client list including Dimension Data, Liberty Life, EDS, Amplats, JCI, Old Mutual and ESKOM.
Paracon is a total service provider that delivers the full lifecycle solution. It will be able to offer this newly extended client base with a full range of Paracon`s intergrated products and services.
DPCC operate locally and internationally through business partners, operating in the Middle and Far East, USA, Australia and Europe.
"This will further benefit Paracon`s position internationally as we will be able to leverage off these existing relationships, and ultimately expand our international presence," says Verdoorn.
Eugene de Kok, CEO of DPCC says: "We are proud to partner with a company like Paracon. The deal will put us in a stronger position to take advantage of the considerable opportunities presented in IT consulting both domestically and internationally."
The acquisition will be satisfied by a combination of cash and Paracon shares. Part of the consideration is payable on the achievement of profit warranties determined upon the profit after taxation for the year ending 28 February 2001.
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