Paystack has been acquired by Stripe for $200 million, Techcrunch reported on Thursday.
The Lagos-based firm, which provides integrated payment services for financial transactions, has around 60,000 users, Techcrunch said, including small businesses, larger corporates, fintechs, educational institutions and online betting companies.
Despite the acquisition, Paystack will continue to operate independently, the report said of the deal whose terms were not immediately disclosed.
Paystack’s deal was touted as the biggest startup acquisition out of Nigeria to date and also the biggest for Stripe.
The development has been widely cheered amongst Nigerians, including former Vice-President Atiku Abubakar who tweeted about it on Thursday afternoon.
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