South African fintech Lesaka completes Adumo’s acquisition for $96 million
Lesaka acquires Adumo for R1.67 billion ($96 million). The acquisition involves issuing approximately 17 million shares and a cash payment of R232.2 million ($13 million).
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.
NASDAQ-listed Lesaka will finalise $85 million Adumo acquisition in October
Lesaka Technologies to finalize $85 million acquisition of Adumo in October 2024. Acquisition approved by shareholders and South Africa’s Competition Commission.
South Africa’s Top 5 FinTech Startups and Their Funding
TymeBank is a digital bank that allows users to open accounts online and earn reward points on payments. Yoco provides payment processing solutions for businesses and merchants, including card machines and payment gateways.
Lesaka Acquires South African Fintech Firm Adumo for $85.9 Million
Adumo, South Africa's largest independent payments processor, has been acquired by Lesaka for ZAR1.59 billion (US$85.9 million). Adumo has been on an acquisition spree, purchasing SwitchPay, WireCard, GAAP, SureSwipe, iKhokha, and other smaller payment startups.
