More Tech Deals to Follow Nigeria's Paystack Purchase by Stripe?

The fast-growing San Francisco-based payment processing company Stripe is buying Nigeria's Paystack, a leading African fintech firm. According to TechCrunch, the deal is "the biggest startup acquisition to date to come out of Nigeria, as well as Stripe's biggest acquisition to date anywhere." Paystack CEO and co-founder Shola Akinlade said in making the announcement: "We'll be acquired by Stripe to accelerate online commerce across Africa." Stripe noted that the two companies have been working together for several years, and said "Paystack will continue to operate independently, growing their operations in Africa and adding more international payment methods." "The Paystack acquisition will have a ripple effect across our entire ecosystem," Cameroonian tech entrepreneur Rebecca Enonchong, who is CEO of the Maryland-based enterprise applications provider AppsTech, said in a Tweet.