04:37 PM EDT, 06/26/2025 (MT Newswires) -- Lesaka Technologies ( LSAK ) said late Thursday that its unit Lesaka Technologies Proprietary has agreed to acquire all issued ordinary shares of Bank Zero Mutual Bank.

The deal will be settled through a combination of newly issued Lesaka ( LSAK ) shares, giving Bank Zero shareholders nearly 12% of Lesaka's ( LSAK ) fully diluted equity at closing, and up to 91 million South African rand ($5.1 million) in cash, implying a total consideration of up to 1.09 billion rand, the company said.

The transaction remains subject to customary closing conditions and regulatory approvals, including clearances from the Prudential Authority of the South African Reserve Bank, the Competition Commission, and Exchange Control authorities, the company added.

Lesaka ( LSAK ) said it expects the deal to be accretive to its shareholders, with Bank Zero likely to be profitable in the fiscal year after closing the transaction.

Shares of Lesaka ( LSAK ) were up 4.4% in recent after-hours activity.

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