It was announced today that the Professional Contractor Group (PCG) has accepted a bid of £15 million from giant American IT Agency Aducto Inc.
The directors of the PCG will receive £2.5 million each.
There had been a scheme mooted previously to make all PCG members joint owners of the PCG but that was abandoned as too risky and too inflexible. Therefore, the Board of Directors was left as sole owners of the PCG.
Aducto are mainly interested in the IT portal where PCG members log their skills in the hope of getting direct contracts. Aducto intend to make this the premier skills database in the industry.
Said Aducto Chairman Peter Losty ‘Agencies are in danger of becoming redundant in the internet age, so we want to be first to adopt the new way of working. It‘s sink or swim. We will simply add a small percentage whenever contractors get employment through the Portal’.
Helping with IR35
Aducto believe that they can add value to the PCG‘s campaigns against IR35 and Fast Track Visas etc. They believe however, that in order to have a fully effective PCG, that the annual membership fee will need to be increased for the current £100 to around £250 per annum.
Said PCG Marketing Director Richard Robson, who will share in the bounty ‘we came to a point when we realised that for the PCG to go on and become an even more effective representative of contractors‘ interests, we needed a major company behind us to help us to achieve our goals. I believe that Aducto are that company’.
The current directors will remain with the PCG for a further 6 months until Aducto can assimilate high-powered American management and experienced Washington lobbyists.
Not the Money
According to PCG Director, Ian Colpmani, ‘It‘s not the money that is important to the Board of Directors. It‘s the fact that we have made a move that will greatly assist IT contractors to get rid of IR35, and to have the help of top-dog lobbyists with experience of influencing the US Government’.
Said PCG founder, Andy White, ‘These are a good bunch of lads who have worked very hard to get the PCG to where it is today. They deserve every penny that they get’.
Ann Swain of ATSCo said, ‘It‘s very exciting that contractors will now be working hand in hand with agencies for the greater good of the industry’.
One Sour Note
One ex-member of the Consultative Council who had previously defeated the PCG in court on a financial matter, and who spoke on the understanding of anonymity said ‘It doesn‘t surprise me that the current Board members have cashed in. When I was on the CC, I was constantly pointing out the dangers of a contractors group being wholly owned by the Directors and not the members. Aducto were also heavily involved in lobbying the Government in the US to adopt the American equivalent of IR35’.
It remains to be seen if this buyout by an American agency will be beneficial to contractors or not.
Watch this space!
Contact and Comment
‘I do not believe it!’ If you want to comment on this article use our new ‘Article Comments’ facility below.
Or contact us at [email protected]
“”If you know anyone else who would find this article useful, please email the article to them using facility below””.