Tritech Media, a South African digital media company, has announced its acquisition of 25% stake in mobile rewards platform, TuYu.
The fund from the acquisition will enable Tuyu scale its operations within South Africa and beyond. Tritech Media has the option of raising its stakes to 50.1%.
“This investment further entrenches our position as the leading provider of all-encompassing loyalty solutions in South Africa,” said William Kirsh, Tritech Media’s CEO. “TuYu is core to our strategic positioning in using its proprietary technology to deliver customised content over digital media. TuYu is highly complementary to our offerings targeting the loyalty industry,” he added.
The cost of the acquisition is undisclosed.
Founded in 2013, Tuyu is a mobile rewards platform that allows users to receive and redeem rewards by using their mobile phones, since the user’s mobile number is all that’s required.
Photo Credit: Nguyen Hung Vu Via Flickr Cc
