Hyperclear Buys South African Data Analytics and Software Platform Principa
For an unknown sum, South African data analytics, consulting, and software platform Principa is being purchased by Mauritius-based technology investment holding company Hyperclear from Apex Partners Holdings.
In order to finance its acquisition plans, which are concentrated on businesses with Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of up to R250 million, Hyperclear recently underwent a rebranding from “IEIT Holdings” and obtained support from Cape Town-based private debt firm Greenpoint Capital.
Matthew Mead, CEO of Hyperclear, said in a statement to TechMoran that the acquisition opens up new possibilities for all of the Hyperclear group companies because Principa’s data-driven retail solution can be combined with Hyperclear’s well-established capabilities in hyper-automation, infrastructure, and security to add value for the clients of the group in new industries.
Mead also emphasized that by opening up access to digital and financial services to a greater segment of South Africa’s population, the agreement provides an opportunity to advance the group’s purpose of harnessing technology to unleash human potential.
According to Principa CEO Jaco Rossouw, the acquisition gives Principa the chance to improve product offerings in Hyperclear’s other portfolio companies by utilizing its technical know-how and industry expertise in retail credit to assist South Africans who are having trouble accessing fundamental digital financial services.
Cogent, a pure play hyper-automation firm; Retialyx, a retail analytics-through-intelligent-automation company; and Cyberlogic, a managed solutions supplier of cloud and managed IT services, are just a few examples of the high-performance technology-led businesses in Hyperclear’s portfolio.
