Valid signs the documents to purchase Fundamenture

Valid signs the documents to purchase Fundamenture

This purchase will only become official after approval by the Extraordinary Shareholder Meeting of Valid, to be held on September 30th.

If this purchase is confirmed, it is estimated that Valid will move up from the 13th to the 5th position in the global ranking of chip providers. Today, Fundamenture has 6.5% of the global market for SIM Cards, with 300 million cards sold annually. In 2014, the Company reported Net Income of US$ 71.7 million and EBITDA of US$ 10 million.

“The acquisition of Fundamenture will not only complement our essential competencies through our service platforms and products, but will also enable us to accelerate our growth as we enter markets with growing demand, where we do not yet have a relevant presence,” said Carlos Affonso, Global CEO of Valid.

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