ADR - Adcorp sells Research Surveys to Global Mark
ADR
ADR
ADR - Adcorp sells Research Surveys to Global Market Research Group TNS
News Release
Adcorp Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1974/001804/06)
("Adcorp")
Share code: ADR & ISIN: ZAE000000139
News Release Friday, January 12, 2006
Adcorp sells Research Surveys to Global Market Research Group TNS
Adcorp Holdings Limited, the leading JSE-listed provider of human capital
management services in South Africa, has announced the sale of Research Surveys
to a consortium led by one of the world`s leading market research and
information groups, TNS, a new BEE partner, Kapela Investment Holdings (Pty)
Ltd, and the senior management of Research Surveys. This is with effect from 1
January 2007.
Adcorp CEO, Richard Pike says: "This is in line with Adcorp`s strategy to
dispose of non-core assets in order to better focus on its core staffing
operations which contribute in excess of 90% of Group profits. The staffing
industry is a high growth industry and is expected to continue growing at a
significant rate for the foreseeable future. It makes sense that we focus all
our efforts and energies exclusively in this area."
TNS Research Surveys will report into the TNS Asia Pacific, Latin American,
Middle East, Africa and India region and is headed by newly appointed CEO,
Margarita Putter. Research Surveys is South Africa`s leading social and
marketing insights company and has a track record of continuous growth for 27
years.
Research Surveys is today acknowledged as SA`s pioneering research company which
has revolutionised market research by providing clients with valuable insights
and solutions to meet their strategic objectives. Turnover for the year ended 31
December 2005 was R102m.
Adcorp recently announced the acquisition of both FMS, an employee benefit,
added value services provider and labour contracting business, Employrite, as
part of its Group strategy of disposing of non-core activities and replacing
them with core, human capital management activities.
Sponsor: Deloitte & Touche Sponsor Services
Date: 12/01/2007 13:49:46 Produced by the JSE SENS Department.
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