Transaction · Payments · 2020

Net 1 UEPS / Connect Group 2020

Net 1 UEPS Technologies acquired Connect Group on August 14, 2020.

Target: Connect Group
Acquirer: Net 1 UEPS Technologies
Announced: August 14, 2020
Sub-sector: Payments

Transaction overview

Net 1 UEPS Technologies announced the acquisition of Connect Group on August 14, 2020.

Strategic rationale

Acquire leading MSME fintech with 35k+ informal merchant base and merchant acquiring capabilities; combine with Net1's issuing and consumer financial services to create South African market leader.

Deal terms & multiples

Deal value: Not disclosed
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: August 14, 2020
Acquirer: Net 1 UEPS Technologies (Strategic)
Sub-sector: Payments

Sources

iol.co.za /business-report/companies/net-1-ueps-acquires-the-connect-group-for-r37-billion-5e46c80c-da4b-4a68-bf7b-6fd05c4ff143

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