Visa To Acquire Stake in Nigeria’s Interswitch

Lagos – Visa Inc plans to acquire a “significant minority” stake in payments platform Interswitch, the Nigeria-based company said on Tuesday.

Interswitch did not provide financial details in its statement.

The acquisition, which Sky News reported on Sunday as being a 20 per cent stake for 200 million dollars, would give the company a valuation of one billion dollars — putting it in the tech-world “unicorn” status for companies that have a billion-dollar valuation.

(Reuters/NAN)

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