The South African data analytics, consulting, and software platform known as Principa is being acquired from Apex Partners Holdings by the technology investment holding company Hyperclear, situated on Mauritius island. The purchase price is currently undisclosed.
To pay for its plans to buy businesses, primarily ones with EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of up to R250 million. Hyperclear recently changed its name from “IEIT Holdings” to “Hyperclear” and got help from Greenpoint Capital, a private debt firm in Cape Town.
In a statement to TechMoran, Matthew Mead, Chief operating officer of Hyperclear, said that the purchase gives all of the Hyperclear group companies new opportunities because Principa’s data-driven retail solution could be blended with Hyperclear’s well-established skills in hyper-automation, infrastructure, and security to help clients in new industries.
Mead also underlined that by providing access to financial and digital services to a more significant portion of South Africa’s population, the country would be better able to fulfil its potential.
According to the Chief Executive Officer of Principa, Jaco Rossouw, the procurement provides Principa with the opportunities to boost product offerings in Hyperclear’s other portfolio companies by leveraging its industry and technical expertise in retail credit to aid South Africans who are having difficulty gaining access to essential digital financial services.
Cogent is a company that only does hyper-automation. Retialyx is a company that does retail analytics through intelligent automation. Hyperclear’s portfolio includes high-performing technology-driven businesses like Cyberlogic, which provides managed and cloud and IT services through managed solutions.