Brazil Valid Purchases Tender

Valid the Brazilian multinational working in secure identification completed the process for the acquisition of 51 of BluPay a fintech specializing in financial transactions based on blockchain technology.The acquisition reinforces Valids strategy of growth in their line of digital solutions which today account for approximately 10 of the companys revenue which reached R 1.5 billion in the first nine months of the year.Today Valid is Brazils largest issuer of documents the fifth-largest producer of SIM Cards in the world and it is among the worlds ten largest manufacturers of bank cards. It is an important player in technology for the issuance of drivers licenses identification cards digital certifications plus banking and virtual cards in all different sectors of the economy including government banks telecom education health care entertainment and retail.The operation will expand and complement Valids portfolio which includes digital identification digital certificates mobile banking dematerialization and management of smart cities.As a business we have managed to position Valid in the ecosystem of financial transactions now offering the most advanced secure and efficient technology which is completely in line with our business of the identification of people objects and transactions points out Carlos Affonso DAlbuquerque Valids CEO.BluPay already has a functional product for the core structure of payment transactions and will work on the processing of transactions for the architectural model of instant payment.The acquisition of BluPay is valued at R 3.9 million and it may reach a total value of R 25.8 million as long as the conditions set out in the contract and the preset metrics are met.