Matheson recently advised the DPO Group, a leading high growth e-commerce platform and payments provider, on its recent acquisition by Network International Holdings plc, a market leading enabler of digital commerce.
The DPO Group, headquartered in Ireland with a broad international presence across Africa, is a market leading e-commerce platform and payments provider across Africa and has been acquired by Network International Holdings plc. The DPO group has grown rapidly in recent years and has been one of the stand out success stories in the global e-commerce market. The acquisition will allow the group to add point of sale payment solutions to its product portfolio, connecting the DPO Group to acquirers and issuers across the African continent and enabling the group to penetrate the Middle East market for the first time.
The acquisition by Network International will allow the DPO Group to expand its presence in the fast growing electronic payments industry, which is expected to grow strongly in the coming years as the impacts of Covid-19 accelerate merchants transition to e-payments from traditional cash payments. The acquisition will also compliment Network International's existing strong presence in the electronic payments market in the Middle East and Africa.
For the selling shareholders, the transaction is a testament to hard work and effort which has been put in to developing the business in recent years.
George Brady, Matheson corporate M&A partner, commented:
"At Matheson we are delighted to have worked with the DPO Group over the past numbers of years, as the business has grown beyond recognition. A number of teams across the Firm have supported the DPO Group as it rapidly established itself as a market leader and the Firm is delighted to see the validation that this transaction brings to the group's hard work over the years.
While Covid-19 has presented challenges and difficulties to many business across the globe, and has impacted the M&A market both in Ireland and globally, transactions such as this show that strong growth opportunities remain where strategic acquisitions are made. As Covid-19 accelerates the global trend towards e-commerce we expect that the DPO Group and indeed Network International will continue to grow their market presence and build on their well-deserved reputation in this sector."
The DPO Group was advised by a cross-departmental Matheson team led by Corporate M&A partner George Brady and senior associates John Coary and Sandie Lord. The Matheson team worked closely with the Group's African counsel, ENS Africa, on this transaction.
With a wealth of experience across our six partner led offices worldwide and a dedicated 100 person Corporate Department, Matheson has some of the most experienced corporate lawyers in Ireland. Excellence matters and Matheson's Corporate Department, led by 21 partners, has unparalleled experience in complex and innovative domestic and international corporate transactions across all industry sectors.
Originally published August 14, 2020.
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