{"id":30956,"date":"2013-01-31T21:35:35","date_gmt":"2013-01-31T19:35:35","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=30956"},"modified":"2013-02-01T09:19:57","modified_gmt":"2013-02-01T07:19:57","slug":"old-mutual-acquires-22seven","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/software\/30956\/old-mutual-acquires-22seven\/","title":{"rendered":"Old Mutual acquires 22seven"},"content":{"rendered":"

Personal financial management company, 22seven<\/a> has announced that it has been acquired by Old Mutual<\/a>.<\/p>\n

Cape Town based 22seven is now wholly-owned by the long-term savings, protection and investment group, the company said in a statement.<\/p>\n

According to 22seven, its current team will remain the foundation of a group that will expand over time, and the team will stay in their Cape Town office.<\/p>\n

The news confirms an earlier report by BusinessTech, in which a well-placed source informed BusinessTech that the two companies were in talks.<\/p>\n

Old Mutual provides financial services through a partnership with Nedbank<\/a> and Mutual & Federal<\/a> \u2013 two sister subsidiary companies under the Old Mutual group banner in South Africa.<\/p>\n

The group already has a stake in the personal financial management tool market through Nedbank\u2019s My Financial Life platform.<\/p>\n

\u201cWe\u2019re excited about the acquisition,” said Old Mutual\u2019s Strategic Marketing Director, Carlton Hood<\/a>.<\/p>\n

“22seven brings energy, innovation and world-class capability to our global digital strategy, and has already helped so many people change the way they think about money.”<\/p>\n

“Old Mutual is serious about helping people realise their goals, a huge part of which is helping them to understand their financial decisions better. 22seven gets that, and does it brilliantly.\u201d<\/p>\n

Christo Davel<\/a>, CEO of 22seven, said that the company was “fired up” about the deal.<\/p>\n

\u201cWe\u2019re fired up about where we can now take 22seven, and I don\u2019t just mean geographically,\u201d he said.<\/p>\n

\u201cWe\u2019ve always had big plans for our service, and what we think it\u2019s capable of doing. With Old Mutual\u2019s support, the evolution and enhancement will happen much faster.\u201d<\/p>\n

\"Christo<\/a>

Christo Davel<\/p><\/div>\n

More on finance<\/h3>\n

Old Mutual to acquire 22seven?<\/strong><\/a><\/p>\n

22Seven goes live for business<\/strong><\/a><\/p>\n

Big boost for SA eCommerce<\/strong><\/a><\/p>\n

MoneySmart does what it says on the tin<\/strong><\/a><\/p>\n

StartMe: a closer look at SA crowdsourcing<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Old Mutual has confirmed that it is buying financial management start-up, 22seven.<\/p>\n","protected":false},"author":10,"featured_media":29453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[1144,26,1110],"class_list":["post-30956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-software","tag-22seven","tag-headline","tag-old-mutual"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/30956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=30956"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/30956\/revisions"}],"predecessor-version":[{"id":30958,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/30956\/revisions\/30958"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/29453"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=30956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=30956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=30956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}