This archive report was first published on 3 October 2021.
On October 3, 2021, Network International, a London Stock Exchange listed company, finalized its acquisition of DPO Group, a Nairobi headquartered African payment service provider, in a deal worth $288 million.
The acquisition, first announced in July 2019, marks a significant milestone for the African payments space, as Network International expands its presence in the East African market.
Under the terms of the deal, DPO Group will continue to operate under its existing brand in its current territories, with its executive team and employees retained.
Shareholders and executives of DPO Group, which operates in 21 countries across Africa, will become key stakeholders in Network International.
Founded in 2006 in Nairobi, Kenya, DPO Group has over 60,000 active merchants using its platform. The company is expected to begin operations in new markets in Africa and the Middle East, and unveil a new payment solution, DPO Pay, for businesses in some of Network International's territories and across the continent.
Morgan Stanley acted as financial advisors to DPO Group on the deal, while ENS Africa served as the legal advisors.
Watch: An interview with Eran Feinstein, CEO and co-founder of DPO Group, a payment service provider in Africa which has been acquired by Network International.
Read the original announcement of the acquisition.
