Fintech Acquisition Corp. VI, a blank-check company backed by serial dealmaker Betsy Cohen, is in talks to merge with a unit of African telecommunications conglomerate Econet Global, according to people with knowledge of the matter.
The deal would seek to value the unit, Cassava Technologies, at US$4 billion or more, one of the people said, asking not to be identified discussing private information. Deliberations are ongoing and may not result in a transaction, the people said.
A representative for Fintech Acquisition declined to comment. Representatives for Econet didn’t immediately respond to requests for comment.
“We continuously review our capital structure and consider all opportunities,†a representative for Cassava said in a statement. “Our primary focus is to continue to strengthen our position as a pan-African technology leader with a clear vision to accelerate Africa’s digital transformation.â€
Econet, founded by Zimbabwean billionaire Strive Masiyiwa, announced in November that it had folded its fiber-broadband networks, data centers and other assets into Cassava. Its holdings include telecommunications and data center provider Liquid Intelligent Technologies and Sasai Fintech, a so-called super app, according to that announcement. Super apps are online companies that offer a broad range of services.
Cohen is one of finance’s busiest special purpose acquisition company dealmakers. A financial-services specialist, her SPAC deals include taking public the investment bank Perella Weinberg Partners and online-trading platform eToro Group Ltd.
Fintech Acquisition raised $250 million in its June initial public offering.-moneyweb
