Thabang Mokopanele
18 August 2008
Johannesburg — STAFFING company Kelly Group has entered into an agreement to buy Torque Holdings and its wholly owned subsidiaries housed in Torque IT for R37,85m.
Torque IT is made up of Torque Technical Training, Torque Career Campus and Torque Africa.
Torque IT is a certified training partner for international IT brands such as Cisco Systems, Microsoft, Sun Microsystems, Novell, Red Hat and VMWare, offering learnerships and outsourced training.
Torque Career Campus offers training to school leavers seeking employment in the ICT industry.
Kelly CE Grenville Wilson said last week the group had identified the ICT sector as a target market and the acquisition would support its growth objectives . The acquisition is expected to provide Kelly with a source of potential candidates trained by the Torque Career Campus through learnerships and internships.
It would also complement a new ICT division created by the group's flagship brand, Kelly.
"The acquisition brings with it a strong management team and, as Torque IT is 55% black owned, will further enhance the Kelly Group's black empowerment rating.
"In addition, there are key customer overlaps which offer synergistic opportunities," Wilson said.
Torque IT CE Mthunzi Mdwaba said the company's acquisition would have major benefits for its staff, clients, partners and the community.
"Torque IT is the biggest ICT skills factory in sub-Saharan Africa and we could not have a better home than the Kelly Group, given the company's focus on human capital development," Mdwaba said.
Be the first to Write a Comment!
Copyright © 2008 Business Day. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
