M&A Deal Summary

Lesaka Technologies Acquires KSNET

On October 29, 2010, Lesaka Technologies acquired financial services company KSNET

Acquisition Highlights
  • This is Lesaka Technologies’ 1st transaction in the Financial Services sector.
  • This is Lesaka Technologies’ 1st transaction in South Korea.

M&A Deal Summary
Date 2010-10-29
Target KSNET
Sector Financial Services
Buyer(s) Lesaka Technologies
Deal Type Add-on Acquisition

Target

KSNET

Gangnam-gu Seoul, South Korea
website
KSNET Inc. is a value-added network ("VAN") provider for credit card and banking transaction processing. The Company holds a 20% market share in the credit card VAN business in Korea and is a dominant operator in the electronic payment gateway service for E-commerce businesses.

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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 1 of 3
Sector (Financial Services) 1 of 1
Type (Add-on Acquisition) 1 of 2
Country (South Korea) 1 of 1
Year (2010) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Connect Group

Sandton, South Africa

Connect Group is one of the fastest-growing payment solutions providers in Southern Africa, providing services such as bill payment, prepaid value-added services, digitized cash management, merchant lending, and merchant acquiring to nearly 44,000 merchants. The group includes established and highly respected brands such as Kazang, Cash Connect, Capital Connect, and Kazang Connect.

Buy R4.8B
Mergr

Product

Company

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