M&A Deal Summary

Apis Partners Acquires Tutuka

On September 4, 2019, growth capital firm Apis Partners acquired information technology company Tutuka from Paycorp Group

Acquisition Highlights
  • This is Apis Partners’ 1st transaction in the Information Technology sector.
  • This is Apis Partners’ 5th transaction in South Africa.
Investment Fate
  • Tutuka was sold to a strategic buyer in 2021.

M&A Deal Summary

Date 2019-09-04
Target Tutuka
Sector Information Technology
Buyer(s) Apis Partners
Sellers(s) Paycorp Group
Deal Type Divestiture

Target

Tutuka

Johannesburg, South Africa
Tutuka is a global payments enabler making payments happen by enabling clients’ customers to pay with Mastercard, Visa or Union Pay cards and products. Tutuka was formed in 1998 and is based in Johannesburg, South Africa.

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Buyer(S) 1

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 14 of 30
Sector: Information Technology M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: South Africa M&A 5 of 5
Year: 2019 M&A 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-29 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-19 Coda Payments

Singapore, Singapore

Coda Payments operates Codashop, the major independent source for games and in-game currencies. Coda also offers Codapay, which allows publishers of digital content to accept the same range of 300+ payment methods available on Codashop on their own websites, and xShop, which allows publishers to distribute their products through a range of e-commerce and other consumer-facing platforms. Coda Payments was founded in 2011 and is based in Singapore.

Buy -

Seller(S) 1

SELLER

Paycorp Group

Johannesburg, South Africa

Category Company
Founded 1999
Sector Information Technology
DESCRIPTION

Paycorp Group (Pty) Ltd. is an end-to-end payment solutions provider with best-in-class capabilities across ATM services, merchant acquiring and micro and bill payments. Paycorp was formed in 1999 and is based in Johannesburg, South Africa.


DEAL STATS #
Overall 1 of 1
Sector: Information Technology M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
Country: South Africa M&A 1 of 1
Year: 2019 M&A 1 of 1