South African fintech company Leseka Tech to acquire payments provider Adumo for approximately $86 million

South African fintech startup Lesaka Technologies recently signed an agreement to acquire payment solutions provider Adumo for approximately $86 million. Under the terms of the agreement, Lesaka Technologies will pay Adumo $12.5 million in cash, which will come from internal and external financing institutions. As part of the acquisition transaction, Lesaka Technologies will issue 17,279,803 common shares to Adumo's major shareholders. According to lesakatech, some of Adumo's major shareholders will receive Lesaka Technologies shares, including Apis Growth Fund I, a private equity fund managed by British venture capital firm Apis Partners, and African Rainbow Capital (ARC) under South African billionaire Patrice Motsepe. (Bitcoin.com)