Lesaka to acquire fintech company Adumo for R1.6bn
After the latest acquisition, Lesaka’s ecosystem will serve 1.7-million active consumers and 119,000 merchants
08 May 2024 - 07:41
Lesaka has signed a new deal to buy local fintech operator Adumo for R1.6bn through a combination of stock and cash, indicating its strategy of acquisitive growth remains in place.
On Wednesday, the JSE-listed fintech group said it had signed a definitive agreement to acquire Adumo for $85.9m (R1.59bn). The purchase consideration will be settled through the combination of 17,279,803 new Lesaka shares to be issued to Adumo’s shareholders plus $12.5m, or R232m, in cash, funded by internal cash resources and external financing. ..
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