Nairobi headquartered African Payment Service Provider DPO Group has entered an agreement for a 100% acquisition by Network International. Network International, a regional enabler for digital commerce in the Middle East and Africa will use DPO’s capabilities in leverage online, mobile, and alternative payments in Africa, riding on DPO’s network of over 47,000 active merchants in 19 African countries. Additionally, the deal will help Network international to grow its merchant and Mobile Network Operator relationships for customers of both companies.
The deal will enable DPO Group to penetrate the Middle East market and add point of sale payments to its product portfolio. DPO Group CEO Eran Feinstein terms the acquisition deal as a milestone for both businesses and their customers. “Combining the two companies will allow us to broaden our offering for new and existing customers, significantly improving capacity for Africa’s merchants to do business not only across the continent but in the Middle East as well as globally,” he said.
DPO will continue to operate under the same brand. Further, the company will still maintain its employees and executive team, with its executives and shareholders becoming key stakeholders in Network International.
DPO Group Acquisition to Accelerate Network International Strategic Framework
The acquisition will also allow Network International to accelerate its strategic framework and future growth, combining both acquiring and issuing sides to its payment solutions.
“We are excited by this acquisition which will strengthen our strategic framework by combining both of our businesses’ activities across the African market. This deal will also enhance our offering in the payments value chain by the presence on both
sides of the transaction, acquiring and issuing, and accelerate our future growth. Together, we have a powerful combination to accelerate digital payments across our regions and offer a one-stop-shop solution for merchants, with multiple payment acceptance methods,” said Simon Haslam, Network Internation’s CEO.