The JSE-listed BEE financial consulting and business advisory group, SAB&T Ubuntu Holdings Limited (SUHL), has acquired a majority shareholding in specialist business intelligence (BI) solutions provider, Cortell Corporate Performance Management, for an undisclosed amount.
The companies have a longstanding relationship and have worked on various contracts together over the past 10 years.
Bashier Adam, CEO of SUHL, says the acquisition is part of the company's strategy to deliver value to its shareholders by growing both its skills and its footprint in the business advisory space.
"This deal was long time coming and inevitable, our combined earnings potential is enormous. We have always showed a special interest in Cortell, specifically because it caters for the growing need for activity-based costing and BI solutions."
Together, Cortell and SUHL have a combined client base that now covers all industry sectors, allowing them to enhance their offering and also share their expertise in the various vertical markets. This acquisition allows them to grow their critical mass throughout all the industries.
Cortell Business Solutions director Greg Bogiages says SUHL provides it with access to scarce business consulting and financial resources. "Although there are so many synergies in what we do, we have always played in different markets. We have mutual respect for each other and we both realise the enormous business potential of this acquisition. Our IT skills, combined with SUHL's consulting skills, is a recipe for success."
Adam says the new structure will not only enhance the existing management teams, but also the total service offering. "We now have the ability to service clients from more offices across the country which means increased business opportunities."
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SAB&T Ubuntu Holdings Limited, a leading black empowered firm, provides accounting, auditing, business consultancy and tax advisory services. Established in 1994, with the objective of positioning the organisation as a market leader in the industry. The firm, spearheaded by Bashier Adam, CEO of SAB&T, started primarily as an accounting practice, and soon expanded its services to other regions within the country.
In 1998, SAB&T became a member firm of SC International (now Nexia International), a worldwide association of professional firms in the financial industry and was appointed to head up the South Asian, Middle East, Africa Region (SAMEA). Furthermore, SAB&T was elected to chair the first International Strategy Group of Nexia. Being a member firm of Nexia has brought with it various opportunities, access and exposure to the global market.
The company made its debut as the first professional services to list on the JSE on 30 November 2006, when it listed on AltX.
Cortell Business Solutions
Cortell Business Solutions designs and implements intelligent business solutions for a vast cross-section of clients on a global scale. The company is associated with Cortell International which currently has projects in Canada, the US, Singapore, Australia, New Zealand and South Africa. Since its inception in 1992, Cortell has invested a great deal of time, conceptual thinking and manpower in developing business intelligence methods and performance measurement tools.
In 1996, Cortell expanded into an international company that currently operates from offices in South Africa, Australia, New Zealand and North America. Today, Cortell forms a nucleus of ventures across the globe. While each company within the group maintains its individuality, it shares people, knowledge, expertise and world-class technology to deliver similar solutions to its clients.
Cortell Business Solutions focuses on extracting business intelligence information for the measurement and management of critical business processes and issues through the design, development and implementation of large-scale modelling, budgeting, and reporting solutions; performance management systems to render operational excellence and achievement of financial results; executive information systems to help managers keep their "fingers on the pulse"; customer and market intelligence to provide insight into customer profitability, relationships, and services; and costing systems to identify ineffective processes or products.
Cortell operates in the financial services, health services, logistics, public sector, manufacturing, retail and tertiary education industries.
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