Chipper Cash has launched in South Africa, bringing unlimited free domestic money transfers to locals, as well as a range of other financial features….
This year saw one of the biggest acquisition deals for a South African tech startup — when US listed company 2U bought Getsmarter for $123-million. At least three other SA tech startups were acquired in 2017. Ventureburn takes a look at the four that the publication covered in 2017.
The four include only acquisitions of South African tech startups that Ventureburn reported on in 2017 and that were concluded for a stake of 51% or more .
For example last month mortgage finance provider SA Home Loans announced that it had acquired a 49% stake in online real estate agency PropertyFox).
The four include only acquisitions of SA tech startups that Ventureburn reported on in 2017 and that were concluded for a stake of 51% or more
Here are the four acquisition deals:
Getsmarter acquired by 2U (R123-million): US listed company 2U in May announced the acquisition of Cape Town edtech startup GetSmarter for $103-million and an earn-out provision of as much as $20m in cash. The deal was finally concluded in October. GetSmarter, which was founded in 2008 by brothers Sam and Rob Paddock, delivers short-term online certification courses to distance-learning students in partnership with a number of top universities.
Makro acquisition of WumDrop (Undisclosed): In November wholesaler Makro (part of listed company Massmart) announced that it had acquired a majority stake in startup courier and delivery service WumDrop for an undisclosed sum. WumDrop, founded in 2014, claims the acquisition will improve the online shopping experience of Makro customers by cutting the delivery time for customers who are within 20km of a Makro store — from three days to just three hours.
Computicket acquires Entry Ninja (Undisclosed): Ticket booking site Computicket (owned by Shoprite Holdings) in April revealed that it had bought local company Entry Ninja for an undisclosed sum. The Pretoria based startup, which was founded in 2014 facilitates entries into South African sporting events.
Reunert takes majority stake in Ryonic Robotics (Undisclosed): In March, Reunert, which manages a portfolio of ICT-related companies announced that it had taken a 74.9% stake for an undisclosed amount in robotics designer and manufacturer, Ryonic Robotics. The startup was founded in 2014 and creates robotics systems which have various industry applications.