M&A Deal Summary

Lesaka Technologies Acquires Adumo

On May 7, 2024, Lesaka Technologies acquired financial services company Adumo from Apis Partners for 86M USD

Acquisition Highlights
  • This is Lesaka Technologies’ 2nd transaction in the Financial Services sector.
  • This is Lesaka Technologies’ 2nd largest (disclosed) transaction.
  • This is Lesaka Technologies’ 3rd transaction in South Africa.

M&A Deal Summary
Date 2024-05-07
Target Adumo
Sector Financial Services
Buyer(s) Lesaka Technologies
Sellers(s) Apis Partners
Deal Type Add-on Acquisition
Deal Value 86M USD
Advisor(s) Webber Wentzel (Legal)

Target

Adumo

Johannesburg, South Africa
website
Adumo is an independent card-acquiring company delivering a comprehensive suite of payments and value-added solutions to a broad spectrum of merchants across South Africa. Adumo is based in Johannesburg, South Africa.

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Buyer(S) 1

Buyer

Lesaka Technologies

Johannesburg, South Africa

website

Category Company
Founded 1997
Sector Business Services
Employees2,657
Revenue 223M USD (2022)
DESCRIPTION

Lesaka Technologies is a provider of payment processing system for the developing world. Net 1 Lesaka Technologies was founded in 1997 and is based in Johannesburg, South Africa.

DEAL STATS #
Overall 4 of 4
Sector (Financial Services) 2 of 2
Type (Add-on Acquisition) 3 of 3
Country (South Africa) 3 of 3
Year (2024) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-05 Touchsides

Johannesburg, South Africa

Touchsides is a data analytics, insights, and merchant services company. The business provides platform-as-a-service (PaaS) and software-as-a-service (SaaS) solutions to licensed tavern outlets, enabling the measurement of sales activity in real-time, management of stock levels and informing commercial decisions, such as pricing and promotional offers. Touchsides was founded in 2013 and is based in Johannesburg, South Africa.

Buy -

Seller(S) 1

SELLER

Apis Partners

Investor Investor Investor Investor Investor

website

Category Growth Capital Firm
Founded 2014
Size Small
Type Sector Focused
DESCRIPTION

Apis Partners is an investment group focused on investing in financial services companies operating in emerging markets. Specific areas of interest include payments, insurance, credit/savings, capital markets, and tech-enabled service providers. Apis looks to back companies benefiting from increased mobile adoption and access to financial products and services. Apis Partners was established in 2014 and is headquartered in London.

DEAL STATS #
Overall 7 of 7
Sector (Financial Services) 3 of 3
Type (Add-on Acquisition) 4 of 4
Country (South Africa) 4 of 4
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-15 Efficient Group

Pretoria, South Africa

Efficient Group is a diversified financial services group focused on providing professional advice, quality solutions and tailor-made investment products across the full financial services value chain, including asset administration services, asset management services, financial products distribution and professional financial advice to both retail and institutional investors in South Africa. Efficient Group is based in Pretoria, South Africa.

Sell -
Mergr

Product

Company

Legal