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.
- The deal is expected to close pending customary conditions.
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
Frequently asked questions
How much did Net1 UEPS Technologies pay for Connect Group?
Net1 UEPS Technologies acquired Connect Group for $219M, announced on November 2, 2021.
When did Net1 UEPS Technologies announce the acquisition of Connect Group?
Net1 UEPS Technologies announced the acquisition of Connect Group on November 2, 2021.
What sub-sector is Connect Group in?
Connect Group is tracked in the Payments sub-sector.
Sources
- moneyweb.co.za /news/companies-and-deals/net1-in-blockbuster-r3-7bn-fintech-acquisition/