SHOCKING MERGER ROCKS JSE: Reunert Group Consolidates Tech Empire
BILLION-RAISING DEAL: In a move set to shake the JSE to its core, Reunert Group has just announced the merger of IQbusiness and +OneX, two of the most prominent tech companies in the country, into a new "digital integrator" under the banner of IQbusiness.
CEO’s BLOW-UP: Speaking to ITWeb, Adam Craker, CEO of IQbusiness, revealed that the merger marks a "bold vision" to create a "powerhouse" that will "redraw the landscape of our sector". Craker, a veteran of the SA tech industry, warned that the merger is not just a strategic move, but a "scale of what we can achieve together" as SA enters a new investment cycle and growth trajectory.
‘BUT IS IT A GOOD IDEA?’: Critics weigh in: While some have hailed the merger as a visionary move, others are questioning whether it’s a recipe for disaster. "We’ve seen this before," warns one industry insider. "These mergers always promise to create bigger fish, but usually result in bloated, inefficient monsters that devour each other’s profits."
A HISTORY OF CONSOLIDATION: Reunert, the parent company of IQbusiness, has a history of acquisitions and mergers. In 2022, it acquired 74.2% of IQbusiness for an undisclosed amount. Now, the company is looking to create a new, unified entity that will bring together almost 1,500 team members under one roof.
WHO’S WORSEN OFF: Vital statistics: 74.2% of IQbusiness sold to Reunert ; IQbusiness founded in 1998 as an independent management and technology consultancy ; 1,500 team members to be merged ; Reunert Group formed in 1975 .
THE FUTURE IS BRIGHT…?: As the dust settles, industry insiders are left wondering what this means for the future of tech in South Africa. Will the merger lead to a new era of innovation, or will it stifle competition and creativity? Only time will tell, but one thing is certain: the SA tech scene will be watching with bated breath.
