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Nigeria: VANSO completes merger with Interswitch

Nigeria: VANSO completes merger with Interswitch

Nigeria

Value Added Network Solutions “Vanso”, a market leading mobile and security focused financial technology provider has announced the acquisition of 100% of the equity in the company by Interswitch Limited, the leading pan-African digital payments and commerce company.

The transaction will integrate the two businesses and provide Interswitch with a market leading mobile banking and payments solution provider in Nigeria, while enabling Vanso to accelerate growth across an expanded range of geographies and products.

Vanso’s existing shareholders will become shareholders of the Interswitch group, aligning the long term interests of both companies towards long-term growth.

Vanso’s mobile banking platform and payments solutions are already integrated with the Interswitch system.

Vanso provides highly secure messaging, payments and banking solutions for a broad range of telecommunications and financial services clients in Nigeria, Ghana, Rwanda, Kenya and a number of other territories across sub-Saharan Africa.

The combination of Interswitch and Vanso will create an unrivaled African solution across switching, billing, cards, mobile money and mobile commerce, while integrating an end to end value chain play through the combination of Vanso’s front end solutions and Interswitch’s back end infrastructure.

“Vanso’s mobile banking platform and payments solutions are already integrated with the Interswitch system, and this transaction provides a broad and established platform from which we can grow into the continent’s leading mobile messaging, payments and banking provide,” said Vanso executive co-founders, Denis O’Brien and Idris Saliu.

Remarking on the merging of both entities, Vanso’s chairman and co-founder, Richard Akerele, said he believes the future of Nigeria and Africa rests in the hands of the younger generation.

“I am extremely proud of the Vanso team and all its staff, in building a highly competent technology company. It is a testament to the capability of young Nigerian entrepreneurs who have a vision for our country and belief in themselves,” he added.

Vanso is a financial technology provider focused on delivering cutting edge and innovative solutions in Africa.

The company was established in 2005, and provides highly secure messaging, payments and banking solutions to a range of telecommunications and financial services clients in Nigeria, and an increasing number of African markets.

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