Takeover: N15 bn

Takeover: N15 bn

 

Nigerian payments giant Interswitch has taken over Value Added Network Solutions Limited (VANSO) in a deal reportedly worth N15 billion.

Interswitch Group MD and CEO, Mitchell Elegbe is quoted as saying the acquisition of VANSO, would be a great opportunity to combine respective technology offerings and skill sets to drive growth.

VANSO which provides security-focused financial technology to mostly banks will now have its management team absorbed into Interswitch’s management team, with its CEO heading Interswitch’s mobile payment’s business unit.

 

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