The IQ Business Group

The IQ Business Group

The IQ Business Group is a South Africa based company that at one time was the largest unlisted technology company in South Africa. The business was headed up by Johan Roets (SA) together with Chris Sinclair, Patrick Crooks and Ricardo Rosa.

The Business has operations in South Africa, Australia and the United States.

The business commenced in July 1998. It was started with the intention of becoming the premier process and technology consultancy and outsourcing business in South Africa, using the low cost environment to become a base for processing transactions for banks, insurance companies and heathcare businesses globally.

A number of joint ventures took place and by early 2001, the business was valued at ZAR 1 Billion .

The business was later plagued by the fall from grace of technology stocks worldwide, with the fall of the Nasdaq and the subsequent depression of markets after September 11. It had invested in a number of non-core technology based businesses that had to be sold or shut in a turnaround project for the group. The business was restructured in the process, and was returned to profitability.

During 2004, Dirk Ackerman, ex Dimension Data and Nedbank, joined the business as CEO. The business has continued to provide consultancy and technolgy services since then. Nedbank, HCI and Investec sold out of the business and new BEE and institutional shareholders joined the business.

The business has executed the acquisition of a training and learning businesss as well as a joint venture with Indian based Prodapt. The business holds itself out as an innovative and createive learning environment for young consultants and IT employees.

This significant reduction in the flamboyance and corporate activity of the business has kept the business on track with adequate annual growth, providing a stable base for future growth to shareholders.

External links

* [http://www.iqgroup.net/ Corporate website]
* [http://www.iqgroup.com/ Corporate website]


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