ADUMO ACQUIRES GAAP. South African fintech company Adumo has decided to acquire point-of-sale company Gaap for an amount yet to be disclosed.
Who is Adumo?
Adumo is not a bank. Adumo is a payments expert reshaping the payment landscape for the benefit of all with a presence in 14 African countries. The company has years of expertise to help you accept easy card payments, but their product offering is set up to enable retailers across the continent to grow their business through one fintech partner. Also, their core focus is to provide businesses with support for their business needs – whether it be an informal trader, large retailer, or franchise environment.
About point-of-sale company Gaap?
Gaap is located in DURBAN, KwaZulu-Natal, South Africa, and is part of the Information Technology Services Industry. Gaap specializes in providing products to the hospitality industry, including point-of-sale hardware and software, drive-thru systems for quick-service restaurants, digital menu board solutions, and online ordering solutions including all relevant customer support. Recently, the company has grown into the leading African hospitality point-of-sale provider.
The major reason why Adumo acquired Gaap was to widen the company’s spectrum of operations.
According to Paul Kent, CEO at Adumo, he said:
This acquisition will strengthen our relationship with Gaap as we work together to introduce innovative fintech products to restaurants at a critical time. The impact of the pandemic and lockdowns has pushed many restaurants to the brink. Together with Gaap, we will develop and introduce fintech solutions to restaurants in an effort to help them survive and thrive amid challenging conditions.
He also said:
The pandemic is forcing the payments and restaurant industries to fast-track innovation. This complementary partnership will unlock opportunities for developing innovative new products that can be delivered to the changing world of hospitality and quick-service restaurants. It is our vision to create an open and fair payment industry that drives inclusion and growth, and we look forward to working with Gaap to unlock these opportunities.
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