Lesaka Applied sciences on Wednesday mentioned it has concluded its acquisition of fee processing agency Adumo via the issuance of round 17 million shares of Lesaka frequent inventory and a money fee of R232.2-million.
In keeping with Lesaka, the transaction brings the whole buy consideration to R1.67-billion utilizing Lesaka’s 1 October closing worth on the JSE of R83.05/share.
“The Adumo transaction is an thrilling addition to the Lesaka story,” mentioned Lincoln Mali, CEO of Lesaka Applied sciences Southern Africa, in a press release on Wednesday. TechCentral will publish a TechCentral Present interview with Mali within the coming days, wherein he unpacks the acquisition.
“It considerably enhances our expertise platform, including clients, options and significant scale. I wish to prolong a heat welcome to all of the Adumo workers, in addition to Adumo CEO Paul Kent who joins our govt management group.”
Kent will take duty for Lesaka’s service provider division, which the group expects to develop now that the rate of interest reducing cycle has begun. Dean Sparrow, CEO of Crossfin Know-how Holdings, additionally joins the Lesaka board as non-executive director.
In keeping with Mali, the acquisition means the group’s consolidated fintech platform now serves 1.7 million lively shoppers and 120 000 retailers, and processes greater than R270-billion in transactions yearly.
Accredited
The group now has greater than 3 300 workers working throughout 5 nations: South Africa, Namibia, Botswana, Zambia and Kenya.
Lesaka introduced its intention to accumulate Adumo in Could in a R1.6-billion cash-and-share deal. The deal has been authorized by the competitors authorities. – © 2024 NewsCentral Media
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