History

Valid’s history over the past 60 years shows its capacity of evolving and offering products and solutions that meet the market demand which has been continuously changing.

In 1957 the company Thomas de La Rue was founded, operating in the sale of high-security paper and printing technologies.

In 1993, Thomas de La Rue was acquired by American Banknote Corporation and was renamed American Banknote Company Gráfica e Serviços Ltda. (later transformed into a publicly held company, former American Banknote S.A.). After this acquisition, the Company started to operate also in the development of services, products and solutions for the industry of cards, security identification and printing systems, throughout 18 Brazilian states.

Since 1993, through several acquisitions, strategic alliances and joint ventures, as described below, the Company achieved a leading position in the Brazilian market, reference of quality in the solutions delivered.

On April 12, 2006, the Company was listed as a securities issuer, category “A”, at CVM, becoming part of B3’s Novo Mercado.

Currently, the Company has clients from private and public segments, offering products and services that include features, processes and technologies for anti-fraud and to make it difficult to falsify. Valid’s main clients include state governments and public agencies, large financial institutions, telecommunications companies, retailers, agro-cooperatives and independent professionals.

Over the last few years we have been working hard to diversify our service portfolio, as we understand that many products and solutions currently provided are in the midst of a transformation from the physical world to the increasingly connected and digital environment. The portfolio of solutions currently offered includes credit and debit cards, driver’s licenses, security forms, identity cards and processing and issuing documents with security and fraud prevention features, logistics of documents and supply management of graphic products, smart cards, tracking seals, contactless cards, digital certificates, checks, bank statements, biometric identification systems, systems for administrative modernization, internet banking applications, systems of subscription management for mobile operators, smart storage systems, traceability services using RFID technology, and public utilities bills.

The development of this complete portfolio was only possible thanks to one of the Company’s strongest strategic pillars: the focus on the client’s needs. Whether for governments or for private organizations, we always try to understand the real need of each business. This is how we create customized and integrated solutions that inspire innovation in companies. Working with secrecy, efficiency and quality, verified by the highest degrees of certifications received worldwide, we give to clients the security and trust they need to reach their audience and their goals.

Totaling 6,000 employees in 17 countries and considering the specific characteristics of each culture and region to create customized and integrated solutions, making Valid a relevant global player in the connected life sphere.
The most relevant events in the Company’s history, enabling its expansion and its leading position in the market, were:

• 1995: Acquisition of Bradesco’s graphic services business, paying the sellers with shares representing 22.5% of the Company’s capital;

• 1996: Acquisition of Unibanco’s graphic services business, paid in cash;

• 1997: Acquisition of Itaú’s electronic printing business, paid in cash;

• 1998: Acquisition of Menno Cartões: Acquisition of all assets of the company, then Brazil’s leader in manufacturing plastic cards, paid in cash;

• 1999: A joint venture agreement with Gemplus SCA, a leading French company in the smart card market, was signed;

• 2006: IPO on April 12, 2006. Acquisition, in September, of Trust Administração e Participações Ltda., a company operating in the security graphic segment, whose main activities are printing instant lotteries and paper prepaid cards;

• 2007: Sale of the 50% interest held by the Company in Gemplus Banknote (GBN) in January. Acquisition of the Argentine company Transtex in June, which, on November 10, 2010, had its corporate name changed to Valid Soluciones y Servicios de Seguridad en Medios de Pago e Identificación S.A;

• 2008: Acquisition of Interprint Ltda.;

• 2010: Acquisition of Microeletrónica Española S.A.U. (MEE), which, on November 16, 2010, had its corporate name changed to Valid Soluciones Tecnológicas S.A;

• 2010: American Banknote Corporation ceased to be the Company’s main shareholder and, therefore, on October 8, 2010, American Banknote S.A. changed its corporate name to Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação S.A;

• 2011: Incorporation of the company Valid Certificadora Digital Ltda, a subsidiary of the Company, operating in the segment of digital certificates for individuals and legal entities and electronic tax invoices;

• 2012: In May, to strengthen the Company’s growth strategy in other geographic markets, the Company acquired the company PPI Secure Solutions LLC, headquartered in Pennsylvania, United States. PPI Secure Solutions LLC is known for producing cards and banking solutions. In November, the Company acquired the assets of Vmark Inc. and its subsidiaries, located in Illinois and New Jersey, United States, consolidating the Company’s position in the US market;

• 2013: The Company acquired ScreenCheck North America LLC, headquartered in Indiana, United States, by the subsidiary Valid USA;

• 2014: In March 2014, the Company acquired Inversiones Germán Martínez S.A.S., established in Bogotá, Colombia, by the subsidiary Valid Soluciones Tecnológicas S.A., which was renamed as SAS Valid Soluciones y Servicios de Seguridad en Medios de Pago e Identificación S.A.S. In September, the Company acquired Solpyr Investment S.A. by Interprint in Uruguay. Also, in September, the Company incorporated the subsidiary Valid Soluciones y Servicios de Seguridad em Medios de Pago e Identificación in Mexico.

• 2015: In January, the Company substantially acquired all assets and undertook certain liabilities of Card Cells through VALID USA. In June, the Company acquired MSC, headquartered in California, also through VALID USA. In October 2015, the Company acquired Fundamenture, a company located in Denmark, which operates in the global Telecom business, with a significant presence in Asia, Africa and the Middle East, and focuses on producing and marketing SIM cards, developing and implementing operating systems for SIM Cards and Smart Cards and managing software and solutions for mobile operators. Due to the acquisition, the Company believes that it can play a more significant role in the overall value chain of SIM Cards, gaining scale, efficiency and market share.

• 2016: Throughout 2016 we have been working hard to diversify our service portfolio, as we understand that many products and solutions currently provided are in the midst of a transformation from the physical world to the increasingly connected and digital environment. In this sense, some of the main solutions that we have already developed are the one we did for Banco Davivienda in Colombia, focused on the access to financial services through smartphones. We are also working on projects related to Machine to Machine and Internet of Things initiatives. In addition, with the purpose of adding value to our current offers and recognizing that we are in a world that generates large amounts of information, Valid has invested in the DATA line of business, focused on exploiting all information generated by so many of our clients in relation to their users. Valid has developed technologies to safely analyze the data provided by our clients on the behavior of their users. Therefore, our role is more relevant and definitely contributes to our client’s business strategy.

In addition, on July 4, 2016, the Company notified its shareholders and the market in general that, after complying with the precedent conditions established in the sale and purchase agreement, Valid concluded the sale of the entire interest of its subsidiary Interprint Ltda. in Multidisplay Comércio e Serviços Tecnológicos S.A. (“Multidisplay”). With this divestment, Valid moves forward with its strategy of focusing on segments in which it has a majority share and that are in line with the Company’s portfolio of products and solutions. With Valid’s strong global expansion in recent years, the Company wants to establish a long-term relationship with its clients based on mutual trust. Accordingly, the sale of the interest of the subsidiary Interprint Ltda. in Multidisplay makes it possible for the company to focus more on its mission of providing customized services to safely identify people, objects and transactions.

• 2017: In the United States, in February 2017 we started to issue driver’s licenses in the State of Washington, consolidating our presence in the US market and continuing to look for opportunities to offer the best solution for states in the Identification segment.

Following our strategy of participating more actively in the connected life-age and getting ready for the transition from the traditional SIM Cards to embedded SIM, providing the product, operating system and customization platform (Subscription Manager), on August 21 we announced the acquisition of 5.39% of the shares of Cubic Telecom Limited for 10 million euros.

Cubic is an Irish company focused on developing platforms for M2M (Machine-to-Machine) connectivity management, using, as its main component, the eUICC (embedded SIM or eSIM) technology, considered the SIM Card’s evolution.

With this acquisition, we further tighten our relationship with Cubic, in which we have a seat at the Board, participate in the technology committee and are the preferred partner for any new business models and services developed by Cubic. Thus, we will be more inserted and active in the IoT universe.

Following Cubic’s business project to provide connectivity to the auto industry in China and due to the need for local production, the Company is seeking new business models for production in this country, one of which is the partial acquisition by Valid Soluciones Tecnologicas S.A. (Spain) of Valid Card Manufacturing CO., Ltd. (current name: Beautiful Card Technology Co., Ltd.), which was wholly owned by Beautiful Card Corporation.

• 2018: To expand its business and serve its customers more quickly and efficiently, on March 20th, Valid Soluciones Tecnológicas S.A. incorporated Valid Card Nigeria Limited in Nigeria. On June 8, 2018, the Company changed its name to Valid Soluções S.A. To expand its business role in the IoT segment, using the expertise of Valid Group to bring advanced technology to the agribusiness management, Interprint Ltda. acquired 51.8% of Nexitera Consultoria e Soluções em TI S.A.