Lesaka Technologies, Inc. signed a definitive agreement to acquire Adumo (RF) Pty Ltd from Apis Growth Fund I managed by Apis Partners LLP, International Finance Corporation, IFC Financial Institutions Growth Fund, LP, Adumo management and Crossfin Technology Holdings for ZAR 1.6 billion.
May 06, 2024
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Lesaka Technologies, Inc. (NasdaqGS:LSAK) signed a definitive agreement to acquire Adumo (RF) Pty Ltd from Apis Growth Fund I managed by Apis Partners LLP, International Finance Corporation, IFC Financial Institutions Growth Fund, LP, Adumo management and Crossfin Technology Holdings for ZAR 1.6 billion on May 7, 2024. The consideration consists of ZAR 1.358 billion in common equity and ZAR 232 million in cash, funded by internal cash resources and external financing. The closing of the transaction is subject to customary closing conditions, including approval from the competition authorities of South Africa and Namibia, exchange control approval from the financial surveillance department of the South African Reserve Bank, Lesaka obtaining confirmation from FirstRand Bank Limited, Lesaka obtaining all necessary regulatory and shareholder approval,obtaining certain third-party consents.
and approval of Adumo shareholders. The transaction is expected to close in the third calendar quarter of 2024. Rand Merchant Bank acted as financial advisor and Werksmans Attorneys Incorporating Jan S. de Villiers acted as legal advisor to Lesaka Technologies, Inc. (NasdaqGS:LSAK) and Webber Wentzel acted as legal advisor to Adumo (RF) Pty Ltd.
Lesaka Technologies, Inc. (formerly Net 1 Ueps Technologies, Inc.) specializes in the development of electronic transaction and payment processing solutions and services to merchants and consumers. The activity is organized around 2 areas:
- electronic transaction and payment processing by chip cards: primarily to the distribution, online business, bank, money transfer services, health facilities and telecommunication sectors;
- inclusive financial services. In addition, the group offers electronic payment solutions and systems.
Lesaka Technologies, Inc. signed a definitive agreement to acquire Adumo (RF) Pty Ltd from Apis Growth Fund I managed by Apis Partners LLP, International Finance Corporation, IFC Financial Institutions Growth Fund, LP, Adumo management and Crossfin Technology Holdings for ZAR 1.6 billion.
LESAKA TECHNOLOGIES, INC. 
