| Fri 29 Aug 2008, 7:05 | | EOH - EOH Holdings Limited - Press release |
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EOH
EOH
EOH - EOH Holdings Limited - Press release
EOH HOLDINGS LIMITED
Incorporated in the Republic of South Africa
(Registration number 1998/014669/06)
Share code: EOH ISIN: ZAE000071072
("EOH" or "the group")
PRESS RELEASE
Mthombo IT Services (Proprietary) Limited ("M-IT"), the managed services
division of EOH, has acquired MultiPath, a 300-staff award winning outsourcing
call centre, in Randburg, in a move to significantly strengthen its presence in
the outsourcing space. This increases the number of employees in the outsourcing
division of the group to over 600, and the group`s total staff complement to
over 1 600.
MultiPath provides high-level call centre solutions to various blue chip
corporates and the public sector in 37 African and European languages.
Lucky Khumalo, Chief Executive Officer of M-IT and deputy Chief Executive
Officer of EOH, says the acquisition is closely tied to the group`s strategy to
expand its annuity business, particularly in the outsourcing sector, and is in
line with M-IT`s plans to operate a 600-seater global service desk within the
next 18 months.
"While always advancing the growth of all our service offerings, we are
particularly advocating this on the outsourcing side. The experience that
MultiPath brings to the table, and particularly the size of the company, makes
it possible for us to reach our 18-month growth plan realistically and
confidently."
The acquisition also brings with it a strong management team and, as MultiPath
is a BEE (Empowerdex rated) company with 85 percent PDI staff, will further
enhance the EOH group`s already high BEE rating.
EOH Group Financial Director, John King, says the acquisition of MultiPath will
benefit all stakeholders - staff, clients, partners and the community - and also
promote EOH`s commitment to employment equity and the advancement of PDIs. He
adds that M-IT`s ISO9001:2000 certification will enable MultiPath to realise its
full potential.
MultiPath has enjoyed enormous growth since opening its doors in January 2003 as
a five-seater, 10-staff call centre. CEO, Ian Gordon Cumming, says the marriage
of MultiPath`s call centre outsourcing strengths with M-IT`s IT outsourcing
competencies, positions it in a significantly broader business landscape, and
elevates its standing as a foremost player in the industry, while furthering its
focus on service excellence.
Although the acquisition does not require any formal disclosure in terms of the
Listings Requirements of JSE Limited, the board of directors of EOH would like
to advise investors and shareholders of this strategic investment.
Johannesburg
29 August 2008
Sponsor
Merchant Sponsors (Proprietary) Limited
Date: 29/08/2008 07:05:03 Produced by the JSE SENS Department.
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