| Thu 14 Aug 2008, 17:58 | | KEL - Kelly Group Limited - Torque it acquisition to accelerate Kelly`s growth |
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KEL
KEL
KEL - Kelly Group Limited - Torque it acquisition to accelerate Kelly`s growth
in ict sector
KELLY GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1999/026249/06)
ISIN: ZAE000093373
Share Code: KEL
("Kelly Group")
TORQUE IT ACQUISITION TO ACCELERATE KELLY`S GROWTH IN ICT SECTOR
Johannesburg, 14 August 2008 - The Kelly Group has acquired leading ICT skills
development and training solutions specialist Torque IT for a price not
exceeding R37.85 million in a move designed to strengthen its presence in the
high-growth IT outsourcing and permanent placement sectors.
Torque IT provides high-level technical training services to blue chip
corporates and the public sector on Cisco, Microsoft, VMware, Novell, Sun and
other major systems through its wholly owned subsidiary Torque Technical
Training. Its other business Torque Career Campus, one of the first providers
to be accredited by the Isett Seta, offers customised training services to
school-leavers seeking employment in the ICT industry.
Torque IT is the leading training solutions provider in Sub-Saharan Africa,
offering end-to-end solutions to clients in 24 countries across the region. In
addition, a recent partnership between Cisco and Torque IT has enabled the
company to offer a specialised programme in India. Franchise operations in Kenya
and Angola are operated under its third division, namely, Torque Africa.
Kelly Group chief executive Grenville Wilson said the group had identified the
ICT sector as a target market and the acquisition of Torque IT would support its
growth objectives in this sector, among other things by providing it with a
source of potential candidates that are honed by the Torque Career Campus
through learnerships and/or internships. It would also complement a new ICT
division created by the group`s flagship brand Kelly.
"The acquisition also brings with it a strong management team and, as Torque IT
is 55% black-owned, will further enhance the Kelly Group`s already high BEE
rating. In addition, there are key customer overlaps which offer synergistic
opportunities," Wilson said.
Torque IT chief executive Mthunzi Mdwaba said the company`s acquisition by the
Kelly Group would have major benefits for all stakeholders including its staff,
its diverse portfolio of clients, its partners and the community. "Torque IT is
the biggest ICT skills factory in Sub-Saharan Africa and we could not have asked
for a better home than the Kelly Group, given the company`s focus on human
capital development," he said. "The marriage will greatly enhance our joint
ability to unlock potential and promote skills development in the skills-starved
ICT sector. ICT plays a crucial role in the smooth running of any business and
we hope to use skills development in this sector as a tool to help drive
transformation in our country." Mdwaba is also one of the vice presidents of
Business Unity South Africa (BUSA) and the outgoing chairman of its
transformation policy committee.
For further information call Grenville Wilson, CEO Kelly Group,
on 011 722 8009
Issued by du Plessis Associates on behalf of Kelly Group Limited
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547, Mobile:
082 330 2034 or e-mail: kellygroup@dpapr.com
website : www.kellygroup.co.za
Date: 14/08/2008 17:58:13 Produced by the JSE SENS Department.
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