Convergence Partners and Stockdale Street have acquired 100% of e4, a South African technology company with an international footprint in Africa, Europe, the US and Australia.

The transaction unlocks new opportunities for e4 and its clients in the retail and investment banking sectors.

e4 operates Software-as-a-Service (Saas) platforms to provide solutions and services to clients operating in the financial services, retail, and legal sectors.

Stockdale Street represents the Oppenheimer family interests’ South African private equity portfolio.

The Oppenheimer family, which has four generations of investing experience on the African continent, is the founding family of Anglo American and until 2012 owned a 40% interest in De Beers.

Stockdale Street looks to invest alongside strong management teams in established companies that have sustainable competitive advantages and favorable growth prospects.

Paul Salomon, Partner at Stockdale Street, said: “e4 is a pioneer in the South African SaaS space, having successfully conceptualized, implemented and operated a number of digital solutions that offer significant value to its customer base.”

“We look forward to partnering with management and Convergence Partners to assist e4 with its continued growth, enabling it to remain at the forefront of offering leading edge, trusted electronic solutions and services,” he said.

Convergence Partners, founded in 2006, is an investment management firm focused on the ICT sector in Africa.

Convergence Partners’ investment will sit in its Communications Infrastructure Fund which is focused on investing in ICT infrastructure in sub-Saharan Africa.

Brandon Doyle, CEO of Convergence Partners, said: “The investment in e4 is in our sweet spot, operating at the junction of the rapidly changing global technology environment in identity management and secure electronic document, data, payment processing and the emerging fintech space.”

“The transaction also aligns well with our preferred model of investing in high quality companies with energetic management and a proven track record of innovation,” he said.

The introduction of Convergence Partners and Stockdale Street as new investors will enable the e4 Group to accelerate growth through new product and services development, and further expand its geographic footprint.

Luis Casaleiro, CEO of e4, said: “The acquisition by Convergence Partners and Stockdale Street unlocks new opportunities for e4 and our clients in the financial services, retail and legal sectors.”