DEALS

Accelerating communications
access across the continent

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We are pleased to have acted as Subscriber and Mandated Lead Arranger for Convergence Partners and the Datacentrix management team in their 100% acquisition of Datacentrix from the Alviva Group.

Convergence Partners is a leading private equity investment manager focused on the technology sector in sub-Saharan Africa, with a more than 20-year history of investing successfully in digital infrastructure in the region. Convergence Partners brings its deep skills, relationships, experience and capital to actively grow its investments, including catalysing new investment opportunities both directly and through its portfolio companies.

This Preference Share funding Absa provided enabled Convergence Partners (via the Convergence Partners Digital Infrastructure Fund (“CPDIF”)) to execute on its pan African mandate. Through this transaction, synergies will be realized through Datacentrix’s capabilities and Convergence Partners’ experience in private equity, which is poised to deliver value to clients across Sub-Saharan Africa, North Africa and the Middle East. This transaction aligns with the CPDIF’s strategy of investing in high growth companies that are leading champions in their field with strong management teams and deep customer and vendor relationships.

Absa has had a longstanding relationship with Alviva Group and for this transaction, our M&A team also acted as sell-side advisors, running a competitive bidding process. And through the preference share financing team within our Investment Banking Division team, Absa was able to support Convergence Partners, as the successful bidder, on the buy side.

We are proud to have supported this transaction, which is poised to increase availability of communications, broadband services and new technology offerings to the people of Africa.

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