Lesaka acquires Adumo, a South African fintech company, in a $85.9m deal

Lesaka acquires Adumo, a South African fintech company, in a $85.9m deal

12/27/24, 6:56 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgoakland
Money
$85.9 million
Industry
hospitality
financial services
Type
partnership
In a $85.9 million deal, South African fintech company Adumo has been acquired by counterpart Lesaka. The acquisition price of ZAR1.59 billion (US$85.9 million) will be settled through the combination of an issuance of 17,279,803 shares of Lesaka common stock to Adumo’s current ultimate shareholders, plus ZAR 232 million (US$12.5 million) in cash.

Company Info

Company
Adumo RF (Pty) Ltd
Location
oakland, california, united states
Additional Info
Adumo RF (Pty) Ltd is a prominent payment platform in Southern Africa, serving around 23,000 active merchants. The company specializes in card acquiring, integrated payments, reconciliation services, and corporate card services, covering over 245,000 card holders. Adumo also provides POS and Software-as-a-Service solutions to the hospitality sector in Southern Africa.