BSP Fund Acquires Kenyan Tech Innovation Center iHub

Hedge fund acquires 49.95% stake each from Erik Hersman and Josiah Mugambi, 0.05% stake each from Juliana Rotich and David Kobia, Nairobi-based newspaper reports, citing Hersman.

* BSP acquires majority stake in Gearbox, a provider of equipment and space for hardware and electronics developers;
* Competition Authority of Kenya granted approval for the acquisition;
* Hersman declined to reveal value of the transaction;
* NOTE: July 2015, Inside Nairobi’s Tech iHub. Source: Bloomberg