Fin Tech buys 90% stake in South African firm

Financial Technologies has acquired 90% stake in ICX Platform (Pty), a technology company based in Johannesburg, South Africa for $1.50 million.

According to a release issued by FT to the BSE today, ICX Platform owns IPR & corporate ownership of electronic warehouse receipts technology.

"The deal is subject to applicable approvals and fulfillment of certain representations and warranties by the sellers of ICX," the release added.