TuYu sells 25% to Tritech Media

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Mongezi Mtati

TuYu, the mobile rewards platform that allows users to receive and redeem rewards in a secure and convenient manner by using their mobile phones, has sold 25% of the company to Tritech Media the media technology innovator controlled by the Kirsh family. Tritech Media has the option to increase its stake to 50.1%.

William Kirsh, founder and CEO of Tritech Media, commented, "This investment further entrenches our position as the leading provider of all-encompassing loyalty solutions in South Africa. TuYu is core to our strategic positioning in using its proprietary technology to deliver customised content over digital media. Importantly, it focusses on the mobile phone channel that delivers rewards precisely to the target beneficiary. TuYu is highly complementary to our offerings targeting the loyalty industry."

Ruan Geyser CEO of TuYu added, "This investment not only provides valuable funding but also, perhaps more importantly, introduces the perfect strategic partner, one that complements our business, shares our vision and enables us to be at the forefront of mobile rewards in South Africa and internationally over time."

For more information, go to www.tuyu.co.za.