WorldRemit to Acquire Sendwave in $500 Million Payments Deal
- Transaction comes as virus accelerates move to digital banking
- Acquisition will increase WorldRemit’s coverage in Africa
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WorldRemit Ltd., a U.K. online money transfer company, has agreed to buy Africa-focused, app-based remittance firm Sendwave as the global pandemic intensifies demand for digital banking.
The cash and stock deal is worth more than $500 million, according to a person with knowledge of the matter. The combined company will be valued at more than $1.5 billion, according to one of the people, who asked not to be identified as the information is private.