African payments space, Network International will be acquiring 100% of DPO Group, which will continue to operate under the same brand. Headquartered in Dubai and listed on the London Stock Exchange, Network International is a leading pan-regional provider of digital payment solutions, with presence across the entire payments value chain, delivering integrated omni channel payments services to its customers.
Acquisition of DPO Group will support Network International’s capabilities in Africa across online, mobile and alternative payments as well as providing merchant and MNO relationships and increasing the cross-selling opportunities to both DPO and Network International’s customers. DPO Group is already a high growth business, with revenue CAGR of c.40% from 2017-2019. This transaction enables DPO to add point of sale payment solutions to its product portfolio, connecting DPO to acquirers and issuers across the African continent and enabling DPO to penetrate the Middle East market for the first time.
DPO Group will retain its executive team and employees, as it continues to expand and will drive the payments agenda of the larger group within the African continent and the Middle East. The acquisition will also see DPO Group’s shareholders and executives become key stakeholders in Network International. The deal is expected to close by the end of 2020, subject to customary closing conditions including regulatory and anti-trust.