Bolstering its core business, Paracon has acquired the resourcing interests of IC Blue Technologies for R20,7-million.

The deal, effective 1 June, sees Paracon paying R10,5-million in cash with the balance made up of 9 272 728 Paracon shares at R1.10 per share.
"The acquisition is in line with Paracon`s strategy of acquiring quality information technology service businesses to which it can add value," Paracon says in a statement. "Paracon`s core business is in its resourcing division and IC Blue is an excellent fit within this division.
"In addition, IC Blue`s client base and geographic spread provides potential for growth in the Paracon group`s market share both in Cape Town and Gauteng. Paracon will gain access to a larger client and contractor base from IC Blue."
On its website, IC Blue says it has strategic alliances with Tibco, Oracle, Sybase and Microsoft.