Lesaka Signed Definitive Agreement To Acquire Touchsides; As Part Of Acquisition Heineken's South Africa Operating Business Agreed To Long-Term Renewable Contract For Access To Touchsides' Tavern Data And Services
Portfolio Pulse from Benzinga Newsdesk
Lesaka Technologies, Inc. (LSAK) has entered into a definitive agreement to acquire Touchsides. The acquisition, funded by internal cash, is expected to close in March 2024, pending customary closing conditions. Additionally, Heineken's South Africa operating business has secured a long-term renewable contract for access to Touchsides' tavern data and services as part of this acquisition.
February 05, 2024 | 9:17 pm
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Lesaka Technologies, Inc. (LSAK) is set to acquire Touchsides, with the deal expected to close in March 2024. The acquisition is fully funded by internal cash generation. Additionally, Heineken's South Africa business has agreed to a long-term contract with Touchsides, indicating potential future revenue streams for Lesaka.
The acquisition of Touchsides by Lesaka Technologies (LSAK) is a strategic move that not only expands its portfolio but also secures a long-term revenue stream through the contract with Heineken's South Africa business. The deal being funded by internal cash suggests financial stability within Lesaka, making this acquisition potentially positive for its short-term stock performance. The partnership with a major brand like Heineken could also enhance investor confidence in Lesaka's growth prospects.
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