Valid - Purchase of Fundamenture is approved at Shareholders’ Meeting

News

Brazil - 30/09/2015
Purchase of Fundamenture is approved at Shareholders’ Meeting Back

Valid’s Extraordinary Shareholders’ Meeting, held on Wednesday, September 30, ratified the acquisition of all shares of the Danish company Fundamenture, which has a global presence in telecommunications. An agreement between the companies for this purchase had previously been communicated in early September.

With this operation, Valid moves from being the 13th to the 5th largest SIM card provider in the world. “The formalization of this purchase enables Valid to play a more relevant role in the value chain for chips, and offers economies of scale and operational synergy in a global context,” states Carlos Affonso d’Albuquerque, Valid’s Global CEO.

About Fundamenture

Headquartered in Copenhagen, the capital of Denmark - a Northern European country, Fundamenture is a holding company that manages three companies:

  •  Logos Smart Card: supplier of systems for smart cards, chip modules and solutions. It offers a complete profile, including Java Powered 3GSM SIM and USIM.
  • Bluefish Technologies: manufacturer of smart cards and provider of value-added wireless solutions. Their focus is research & development.
  • Logos Solvo: products for the wireless and mobile telecommunications market, through its global network of partners. Examples: backup handset solutions, management of mobile marketing campaigns, etc.

Currently, the company has 6.5% of the world SIM card market, with 300 million cards sold annually. In 2014, Fundamenture reported a net revenue of US$ 71.7 million, and an EBITDA of US$ 10 million. The company has 131 associates and has a significant presence in the markets in Asia, Africa and the Middle East, operating in 35 countries and with over 150 clients.

Learn more at: http://www.fundamenture.com