FOOTHILL RANCH, California, January 19, 2010 (Business Wire) – Emida, a leader in global prepayment and value transfer, has announced that Philip Smith will join Emida’s management team as President.
Philip joins Emida from Stone Capital Venture Partners, LP where he was responsible, as a member of the Fund’s general partner, for identifying investment opportunities, negotiating investment terms and growing the Partnership’s portfolio companies to their profitable sale. As a managing partner of the Fund, Phil participated on the boards of Lighting Technologies International, Gumps of San Francisco, Ceyx Technologies and Emida (9/05 thru 12/09). Prior to joining Stone Canyon, Phil’s career spanned a wide variety of industries including real estate development, electric power generation, cable television, and oil and gas exploration. Phil holds a B.S. degree in Finance from University of Denver.
“Emida’s success to date has been rooted in our talented and hard-working workforce.” said Dennis Andrews, CEO of Emida. “Further growth will benefit from Philip’s vision and experience of making deals at executive levels across diverse industries, domestically and abroad. We are delighted to have Philip join us.”
Philip Smith said “As an Emida board member, I have seen Emida, a small, California-based company, become a global player. I am very excited about joining the team and helping the Company meet new challenges in 2010.”
About Emida
Emida is a leader in the global prepayment and value transfer market, operating in 36 countries throughout North, Central and South America, the extended Caribbean, Africa, Oceania, the Middle East and Europe. Emida’s POSA network technology enables the domestic and international distribution and value transfer of many types of prepaid products and payment services including prepaid wireless, prepaid long distance, direct top-up, stored value cards, bill payment, mobile wallet services and more. The Emida network includes more than 44,000 retail points with an annual dollar payment volume in excess of $1.2B, processing more than 140 million annual payment transactions.
For more information, please visit www.emida.net or email info@emida.net.
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MEDIA CONTACT:
Martyn Fricker, Emida; +1 949-860-3522; mfricker@emida.net