Net 1 UEPS / Connect Group 2020
Net 1 UEPS Technologies acquired Connect Group on May 30, 2020.
- Target
- Connect Group
- Acquirer
- Net 1 UEPS Technologies
- Announced
- May 30, 2020
- Sub-sector
- Embedded Finance
Transaction overview
- Net 1 UEPS Technologies announced the acquisition of Connect Group on May 30, 2020.
- The deal is expected to close pending customary conditions.
Strategic rationale
Combines merchant acquiring, MSME lending, and cash management capabilities to establish a leading South African fintech platform serving underserved informal businesses.
Deal terms & multiples
Frequently asked questions
When did Net 1 UEPS Technologies announce the acquisition of Connect Group?
Net 1 UEPS Technologies announced the acquisition of Connect Group on May 30, 2020.
What sub-sector is Connect Group in?
Connect Group is tracked in the Embedded Finance sub-sector.
Sources
- iol.co.za /business-report/companies/net-1-ueps-acquires-the-connect-group-for-r37-billion-5e46c80c-da4b-4a68-bf7b-6fd05c4ff143