Naspers acquires DineroMail

Friday, June 17, 2011

Multinational internet and media group Naspers has acquired Argentine firm DineroMail, the largest internet payment platform in Latin America, international press reported.

The value of the deal was not disclosed. The transaction was conducted through BuscaPé Financial Services, Naspers' Brazilian unit in the web business.

DineroMail has more than 3.5mn users and has grown roughly 600% every year since its founding in 2004.

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The deal gives Naspers, together with the International Finance Corporation (IFC) - a financial investor in DineroMail since 2009 - 90% control of the company. Naspers is now one of the biggest internet investors in emerging markets, with presence in 129 countries, mainly Asia, Africa and Latin America. The company billed US$3.9bn in 2010.

"This deal invites us to work harder to open new branches in Peru and Colombia. In our country [Chile], Nasper's arrival allows us to consolidate alliances and strategic relationships, and also include new actors," said Fernando Luna Guzmán, DineroMail Chile country manager.

DineroMail has operations in Mexico, Brazil and Chile. Last year, the company billed US$110mn.