Transaction · Payments · 2021

Net1 / Connect Group 2021

Net1 UEPS Technologies acquired Connect Group for $219M on November 2, 2021.

Target: Connect Group
Acquirer: Net1 UEPS Technologies
Deal value: $219M
Announced: November 2, 2021
Sub-sector: Payments

Transaction overview

Net1 UEPS Technologies announced the acquisition of Connect Group on November 2, 2021 for $219M.

Strategic rationale

Expands Net1's merchant acquiring and SMME fintech platform in South Africa with Connect Group's payment processing and lending solutions serving 44,000 SMEs.

Deal terms & multiples

Deal value: $219M
Target revenue: Not disclosed
Target EBITDA: Not disclosed
EV / Revenue: Not disclosed
EV / EBITDA: Not disclosed
Announcement: November 2, 2021
Acquirer: Net1 UEPS Technologies (Strategic)
Sub-sector: Payments

Sources

moneyweb.co.za /news/companies-and-deals/net1-in-blockbuster-r3-7bn-fintech-acquisition/

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