Convergence Partners and Stockdale Street today announced that they have acquired 100% of e4, a South African company with an international footprint in Africa, Europe, the US and Australia that operates Software-as-a-Service (Saas) platforms to provide solutions and services to clients operating in the financial services, retail, and legal sectors.
The introduction of Convergence Partners and Stockdale Street as new investors will enable the e4 Group to accelerate growth through new product and services development, and further expand its geographic footprint.
Convergence Partners’ investment will sit in its Communications Infrastructure Fund which is focused on investing in ICT infrastructure in sub-Saharan Africa.
Luis Casaleiro, CEO of e4, says: “The acquisition by Convergence Partners and Stockdale Street unlocks new opportunities for e4 and our clients in the financial services, retail and legal sectors.”
Brandon Doyle, CEO of Convergence Partners, adds: “The investment in e4 is in our sweet spot, operating at the junction of the rapidly changing global technology environment in identity management and secure electronic document, data, payment processing and the emerging fintech space. The transaction also aligns well with our preferred model of investing in high quality companies with energetic management and a proven track record of innovation.”
“e4 is a pioneer in the South African SaaS space, having successfully conceptualised, implemented and operated a number of digital solutions that offer significant value to its customer base. We look forward to partnering with management and Convergence Partners to assist e4 with its continued growth, enabling it to remain at the forefront of offering leading edge, trusted electronic solutions and services,” said Paul Salomon, Partner at Stockdale Street.