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Lesaka acquires Adumo, a South African fintech company, in a $85.9m deal

Dec 27, 2024•over 1 year ago

Contract Type

partnership

OaklandFinancial ServicesHospitality

Description

In a $85.9 million deal, South African fintech company Adumo has been acquired by counterpart Lesaka. The acquisition price of ZAR1.59 billion (US$85.9 million) will be settled through the combination of an issuance of 17,279,803 shares of Lesaka common stock to Adumo’s current ultimate shareholders, plus ZAR 232 million (US$12.5 million) in cash.

Company Information

Company

Adumo RF (Pty) Ltd

Location

Oakland, California, United States

About

Adumo RF (Pty) Ltd is a prominent payment platform in Southern Africa, serving around 23,000 active merchants. The company specializes in card acquiring, integrated payments, reconciliation services, and corporate card services, covering over 245,000 card holders. Adumo also provides POS and Software-as-a-Service solutions to the hospitality sector in Southern Africa.

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