Paracon buys X-Pert

By Kimberly Guest for Paracon
Johannesburg, 02 Oct 2007

JSE-listed Paracon is to buy project management consulting and training company X-Pert.

The company has not disclosed the value of the acquisition, which is still subject to normal conditions.

Paracon CEO Mark Jurgens says the acquisition complements the company's service offering and will provide Paracon with access to a wider range of specialised skills.

In a statement to shareholders yesterday, the company said X-Pert has approximately 150 consultants and staff, with offices in both Cape Town and Gauteng.

"Many blue-chip organisations across various industry sectors have standardised on the X-Pert 'Managing By Project' business philosophy and methodology," it added.

At the same time, Paracon told shareholders it expected to produce increased earnings when it releases its financial results for the year ended 30 September. This should result in earnings per share (EPS) and headline EPS being between 50% and 60% higher year-on-year.

Paracon's annual financial results are expected to be released on 12 November.