ICREATE Acquires Majority Stake In E-Commerce Company GetPaid Limited
- iCreate Limited (ICREATE) has acquired a majority stake in e-commerce company, GetPaid Limited. The details of the acquisition have not been disclosed, but this is being touted as a pivotal part of the company’s turnaround strategy.
- Tyrone Wilson, Founder and Chief Executive Officer has stated that, iCreate has an aggressive M&A strategy as part of its Opportunity Ventures Division that was disclosed at the recently held Annual General Meeting (AGM) in January.
- The company sees GetPaid Limited as an opportunity to tap into new market potential while staying true to its vision, which is to aid in the development in the digital and creative economy.
- ICREATE’s decision to increase exposure in the e-commerce industry is warranted, given the expectation for growth in this industry. However, due to its growth potential, competition in the space is expected to intensify.
(Source: JSE and NCBCM Research)