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Issue Date: April 2008

SABT Ubuntu acquires major stake in Cortell

24 April 2008

The JSE listed BEE financial consulting and business advisory group, SAB&T; Ubuntu Holdings (SUHL), has acquired a majority shareholding in specialist business intelligence (BI) solutions provider, Cortell Corporate Performance Management, for an undisclosed amount. The companies have a longstanding relationship and have worked on various contracts together over the past 10 years.
Bashier Adam, the CEO of SUHL, says the acquisition is part of the company's strategy to deliver value to its shareholders by growing both its skills and its footprint in the business advisory space. "This deal was long time coming and inevitable, our combined earnings potential is enormous. We have always showed a special interest in Cortell, specifically because it caters for the growing need for activity-based costing and BI solutions."
Together, Cortell and SUHL have a combined client base that now covers all industry sectors, allowing them to enhance their offering and also share their expertise in the various vertical markets. This acquisition allows them to grow their critical mass throughout all the industries.
Cortell Business Solutions director Greg Bogiages says SUHL provides them with access to scarce business consulting and financial resources.
"Although there are so many synergies in what we do, we have always played in different markets. We have mutual respect for each other and we both realise the enormous business potential of this acquisition. Our IT skills combined with SUHL's consulting skills is a recipe for success."
Adam says the new structure will not only enhance the existing management teams, but also the total service offering. "We now have the ability to service clients from more offices across the country which means increased business opportunities."

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