US-based Pigee to acquire 55% stake in Nigerian logistics startup ShipAfrica

Pigee , a US-based logistics-tech company, has agreed to acquire a controlling 55% stake in Nigerian logistics startup ShipAfrica , giving it a foothold in Africa and access to local infrastructure it would otherwise have to build from scratch. The acquisition will occur in three stages over the next 18 months and will be funded through a combination of cash and equity, according to Pigee CEO Leroy Lawrence. Neither company disclosed the deal value.