The IQ Business Group (Pty) Ltd.

The IQ Business Group (Pty) Ltd., ("IQ") is a South Africa based management consultingfirm, with operations in Australia and the United States. It was founded in July 1998. IQ's offering is to "understand business strategies and combine project management and process thinking to deliver pragmatic outcomes;" its tagline is "Intelligence. Applied." It is particularly ACTIVE in the financial services industry. It also operates in the government sector, and in health-care and telecommunications focusing on service delivery. These activities are supported by a software and technology business unit, and risk management and training practices.

History

IQ was started with the intention of becoming the premier process and technology consultancy and outsourcing business in South Africa, using the low cost environment to become a base for processing transactions for banks, insurance companies and healthcare businesses globally. It was originally headed up by Johan Roets (SA) together with Chris Sinclair, Patrick Crooks and Ricardo Rosa. Its shareholders were Nedbank, HCI and Investec.

A number of joint ventures took place and by early 2001, the business was valued at ZAR 1 Billion. At that time, IQ was the largest unlisted technology company in the country. The business was later plagued by the fall from grace of technology stocks worldwide, with the fall of the Nasdaq and the subsequent depression of markets after September 11. It had invested in a number of non-core technology based businesses that had to be sold or shut in a turnaround project for the group. The business was restructured in the process, and returned to profitability.

During 2004, Dirk Ackerman, ex-Dimension Data and Nedbank, joined the business as CEO. Nedbank, HCI and Investec sold out of the business and new BEE and institutional shareholders joined the business. The business has continued to provide consultancy and technology services since then, and has subsequently created a risk consultancy, acquired a training and learning business Hi-Performance Learning.

IQ Business Group USA

Michael D. Beck joined U.S.-based IQ Business Group as president and CEO in 4th quarter 2008. In the 4th quarter of 2010, Beck orchestrated a management buyout of the IQ Business Group (Pty) Ltd., U.S. operations and renamed the company to The IQ Business Group, Inc. ("IQBG").

External links

• Corporate website
• Corporate Report: The IQ Business Group. Financial Mail, October 2008.
• The IQ Business Group: Private Company Information. BusinessWeek