Prosus inks R1.6bn deal for fintech firm Paynet in Turkey
A Turkish subsidiary of consumer internet giant Prosus, iyzico, has inked an $87 million deal to acquire fintech group Paynet in the country in a move that will bring a more comprehensive set of business-to-business services.
"This strategic move marks a pivotal moment in iyzico's journey towards enhancing its portfolio and expanding its market reach and stands to be one of the largest acquisitions by a Turkish technology company in recent years," Naspers said in a statement on Tuesday. Iyzico is the Turkish pronunciation and abbreviation of"easy check-out" and Prosus held a just over 91% interest in the firm as of 2023 via wholly owned PayU.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
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