BizNis Africa
Latest News
Lidya raises $6.9 million in Omidyar Network investment fund
Lidya, the digital financial services platform focused on improving...
AfDB and Korea launch the Korea-Africa energy investment facility
The Government of Korea and the African Development Bank...
Korea announces $5-billion financial package for Africa
The Government of Korea and the African Development Bank...
World Leaders on Facebook reveals that Botswana Government has busiest page
Indian Prime Minister Narendra Modi is the most followed...
IDC officially opens new Emalahleni Office in Mpumalanga
The Industrial Development Corporation (IDC) has officially opened its...
Telecom Egypt secures $200 million Afreximbank financing for ICT infrastructure
The African Export-Import Bank (Afreximbank) will commit up to...
Ecsponent to invest ZAR400 million into venture capital company Capitis
Ecsponent Limited today, 23 May 2018, announced a transaction...
East African Banks dominate 2018 African Banker Awards
Winners of the 2018 African Banker Awards (AfricanBankerAwards.com) have...
Regional cooperation, structural reforms key to Africa’s economic transformation
Africa’s development agenda must focus on the socio-cultural and...
Facebook officially launches first hub facility in Africa
Facebook today, 22 May 2018, unveiled NG_Hub in Lagos,...

Brad Sacks and Michael Pimstein, Capital Appreciation joint chief executives, Michael Shapiro, MD of Synthesis and Alan Salomon, CFO of Capital Appreciation

Johannesburg Stock Excahnge (JSE) listed Capital Appreciation Limited has acquired 100 percent of Synthesis Software Technologies for ZAR132.1 million.

Synthesis is a specialised financial technology company that provides software development, consulting and integration services to financial institutions. Current clients include blue chip financial organisations such as Investec, Absa, Standard Bank, Capitec and Nedbank.

It will remain independent, operating as a wholly-owned subsidiary of Capital Appreciation. Synthesis will continue to grow as a specialised financial technology provider with access to capital and other resources within Capital Appreciation to further invest in the business and expand its offerings.

“This acquisition is in line with Capital Appreciation’s value creation objectives and its strategy of providing established and emerging financial services companies with fintech services,” explains Bradley Sacks, Capital Appreciation joint CEO.

“Synthesis is well positioned to capitalise on financial institutions’ on-going requirements to invest in innovation, increase customer reach, reduce operating costs and enhance regulatory compliance. It is also the first Amazon Web Services (AWS) Consulting Partner to reach Advanced Partner status in the African and Middle East regions which enables clients to effectively utilise cloud technology.”

“Synthesis started as a team of passionate software developers intent on transforming financial services for its customers in a meaningful way. As part of this journey, we earned their trust, built rewarding partnerships and provided high impact services. This vision will be enhanced by the strong leadership and vision of the Capital Appreciation team,” says Michael Shapiro, Synthesis Managing Director.

 

Leave a Reply

%d bloggers like this: