M&A Deal Summary

Lesaka Acquires Recharger

On November 19, 2024, Lesaka acquired information technology company Recharger for 507M ZAR

Acquisition Highlights
  • This is Lesaka’s 2nd transaction in the Information Technology sector.
  • This is Lesaka’s 2nd largest (disclosed) transaction.
  • This is Lesaka’s 4th transaction in South Africa.

M&A Deal Summary
Date 2024-11-19
Target Recharger
Sector Information Technology
Buyer(s) Lesaka
Deal Type Add-on Acquisition
Deal Value 507M ZAR

Target

Recharger

Durban, South Africa
Recharger is a South African prepaid electricity submetering and payments business with a base of over 460,000 registered prepaid electricity meters. The company enables landlords to collect payment for utility usage from tenants in advance, eliminating the need to manage billing and collections. Recharger is based in Durban.

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Buyer(S) 1

Buyer

Lesaka

Johannesburg, South Africa
Category Company
Founded 1997
Sector Information Technology
Employees2,303
Revenue 528M USD (2023)
DESCRIPTION

Lesaka is a Fintech company that utilizes its proprietary banking and payment technologies to deliver superior financial services solutions to merchants (B2B) and consumers (B2C) in Southern Africa. The Company offers cash management solutions, growth capital, card acquiring, bill payment technologies and value-added services to retail merchants as well as banking, lending, and insurance solutions to consumers across Southern Africa. Lesaka was founded in 1997 and is based in Johannesburg, South Africa.

DEAL STATS #
Overall 5 of 5
Sector (Information Technology) 2 of 2
Type (Add-on Acquisition) 4 of 4
Country (South Africa) 4 of 4
Year (2024) 3 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-07 Adumo

Johannesburg, South Africa

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.

Buy $86M
Mergr

Product

Company

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