Lesaka Technologies, Inc. (Lesaka) has entered into a definitive agreement to acquire Adumo RF (Pty) Ltd (Adumo) for ZAR 1.59 billion ($85.9 million). The deal involves issuing Lesaka common stock to Adumo shareholders and a cash payment of ZAR 232 million. The current shareholders of Adumo, Apis Growth Fund I, African Rainbow Capital, Crossfin Holdings, the International Finance Corporation, and Adumo management, will all become stakeholders in Lesaka post-acquisition. This acquisition is set to significantly expand Lesaka’s operational ecosystem, including merchant services, processing capabilities, and employee count. The transaction is expected to close by the third quarter of 2024 following shareholder and regulatory approvals.

Fintech, Banking & Payment Technologies, Financial Services,South Africa, Southern Africa