Breaking: Lesaka completes acquisition of Adumo for $96 million
- Lesaka Technologies completed the acquisition of Adumo for $96 million.
- The acquisition includes $13 million in cash and a stock component.
- The final acquisition amount is $10 million more than previously reported due to a 27% increase in Lesaka’s share price.
The acquisition of Adumo by Lesaka Technologies is a strategic move that not only enhances its market share but also positions it as a formidable player in the Southern African fintech landscape. This could lead to increased competition in the region, especially against local competitors like YOCO, and may drive innovation and better services for consumers and merchants alike.
