Exchange-Listed Companies

Capital Appreciation has acquired 100% of Dariel Solutions, the holding company of Dariel Software. The R131,2 million purchase price will be settled through cash (R85,3m) and Capital Appreciation shares (25,243,779 shares at R1,52 each, totalling R38,4m).                                  

Unlisted Companies

The UK’s Card Factory, has acquired 100% of SA Greetings Corporation for £2,5m in cash. SA Greetings is a wholesaler of greeting cards and gift packaging. It operates 24 “Cardies” stores and owns a roll-wrap production facility.

Convergence Partners has acquired a stake in 42Markets, a financial and capital markets fintech investment group, for US$10 million. The investment was made through the recently closed, US$296 million, Convergence Partners Digital Infrastructure Fund. The capital will be used to speed up the development and expansion of its portfolio companies (Mesh, Andile and FXFlow).

Consumer rewards app, Maholla, has raised US$1,5 million in seed funding. Investors include the Buffet Group, Castleton Capital, Praesidium Capital Management and Galloprovincialis. Moholla’s app rewards users for scanning any receipt from any store. It then links the retail-agnostic shopping data to the consumer and provides a real-time understanding of what consumers are purchasing in SA.

DealMakers is SA’s M&A publication.
www.dealmakerssouthafrica.com