Network International, has acquired DPO Group (DPO), an online payments platform in Africa, for $291.3 million.
The acquisition of DPO Group will support Network International’s capabilities in Africa across online, mobile and alternative payments. The company is expected to begin operations in new markets both in Africa and beyond in the near future.
DPO’s comprehensive, flexible and secure platform allows businesses and merchants to receive international payments in the currency of their choice, accepting debit and credit cards alongside mobile money and other payment methods.
The UAE-based payments firm also unveiled a new strategic vision and outlined its ambition to be the fastest-growing payments company in the Middle East and Africa.
“As a result of the new strategy, we now expect to deliver significantly accelerated revenue growth of over 20% per annum in the medium term,” Nandan Mer, CEO Network said.
