South African data analytics platform Principa acquired by Hyperclear

by cloudnewsmag
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Mauritius-based technology investment holding company Hyperclear is acquiring South African data analytics, consulting, and software platform Principa from Apex Partners Holdings for an undisclosed amount.

Hyperclear recently rebranded from “IEIT Holdings” and secured backing from Cape Town-based private debt firm Greenpoint Capital to finance its acquisition plans which are focused on companies with Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of up to R250 million. 

In a comment to TechMoran, Hyperclear CEO, Matthew Mead, stated that the acquisition unlocks new opportunities across Hyperclear’s group companies as Principa’s data-driven solution for the retail industry can be blended with Hyperclear’s established capabilities in hyper-automation, infrastructure, and security to create additional value for the group’s clients in new industries.

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Mead also pointed out that the deal is an opportunity to further the group’s mission of using technology to unlock human potential by extending access to digital and financial services to the larger South African population.

For Principa, CEO Jaco Rossouw said that the acquisition presents an opportunity for Principa to enhance product offerings in Hyperclear’s other portfolio companies through leveraging its technical expertise and domain knowledge in retail credit to help South Africans struggling to access basic digital financial services.

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Hyperclear’s portfolio of high-performance technology-led businesses includes, to mention a few, Cogent, a pure play hyper-automation company; Retialyx, a retail analytics-through-intelligent-automation company; as well as Cyberlogic, a managed solutions provider of cloud and managed IT services.

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