South Africa: Adcorp acquires Australian IT recruiter
14 December 2012
Human capital management group Adcorp, listed on the Johannesburg Stock Exchange, has reached an agreement to purchase the entire share capital of Australian IT contracting and recruitment firm Paxus, for AUS$60m (£39m).
Fri, 14 Dec 2012
Human capital management group Adcorp, listed on the Johannesburg Stock Exchange, has reached an agreement to purchase the entire share capital of Australian IT contracting and recruitment firm Paxus, for AUS$60m (£39m).
Paxus has offices throughout Australia, and is the second Adcorp acquisition in two years, following its acquisition of Paracon, a South Afrcia IT contracting and recruitment business, in 2011.Adcorp chief executive Richard Pike comments that “the opportunity for these two businesses to work together is significant”.
He also says that Adcorp intended to continue offering employment to all of those employees currently working for Paxus. The deal should complete by the end of next month.
Human capital management group Adcorp, listed on the Johannesburg Stock Exchange, has reached an agreement to purchase the entire share capital of Australian IT contracting and recruitment firm Paxus, for AUS$60m (£39m).
Paxus has offices throughout Australia, and is the second Adcorp acquisition in two years, following its acquisition of Paracon, a South Afrcia IT contracting and recruitment business, in 2011.Adcorp chief executive Richard Pike comments that “the opportunity for these two businesses to work together is significant”.
He also says that Adcorp intended to continue offering employment to all of those employees currently working for Paxus. The deal should complete by the end of next month.
