Two Leading Electronic Prepaid Providers – Debisys And Emida Technologies – Merge And Raise $7.5 Million To Form A Global Prepaid Solutions And Value Transfer Company
FOOTHILL RANCH, Calif. and MIAMI, Fla. (BUSINESS WIRE) – September 13, 2005 – Debisys, Inc. and Emida Technologies Inc., leading providers of electronic prepaid solutions, announced today they have merged and closed a $7.5m round of funding.
The merger will result in a global corporation that will be called Emida Technologies, Inc. The new Emida will continue to market the Debisys brand in North America and the Puntoflex brand internationally. Operating in 17 countries and supporting multiple prepaid products across the world, the joint organization will continue corporate operations in Southern California and Miami.
Dennis Andrews, Debisys’ CEO, will lead the new company as CEO, and David Brillembourg, Emida’s CEO, will spearhead the company’s international growth as Executive Vice President, Global Business Development.
The $7.5m private equity round is lead by GRP Partners, Stone Canyon Venture Partners, LP and Richard L. Scott Investments, LLC, and will be used to grow the company’s sales, marketing and operations. In connection with the financing, Brian McLoughlin of GRP Partners and Philip Smith of Stone Canyon will join the board.
Dennis Andrews, Debisys’ CEO states, “We are very excited about the merger with Emida; the combined company has a substantial portfolio of prepaid and value transfer products that will bring unique value across the geographies we serve. Our combined presence in 17 countries – and growing – plus our solid relationships with many carriers, allows us to offer a broad range of products and positions us well for growth. Emida brings us a strong management team, excellent technology and the experience necessary to dominate the global Hispanic market. I look forward to working with the new team, and the funding will allow us to capitalize on the huge opportunity to build a truly global company.”
David Brillembourg, Emida’s CEO, commented, “We see the merger between our companies as a strategic move to capture a major share of the global value transfer business. We’ve seen the prepaid wireless markets grow rapidly, and they are now demanding additional products. Our broad range of products and global presence allows us to create differentiating products to increase revenues and traffic. Our teams are very complementary, and we’re excited to be able to work together to build a great company.”
About The New Company – Emida
Emida is a leader in the global prepayment and value transfer market, operating in 17 countries including the U.S., Mexico, Peru, Dominican Republic, Colombia, Ecuador, Guyana, Bermuda, Bahamas, and the much of the Caribbean.
Emida’s POSA and value transfer technologies allow domestic and international distributors and carriers to offer many types of prepaid products, including prepaid wireless, long distance, lottery and stored value. The company’s strategy is to build profitable, robust distribution networks for many prepaid products in multiple operating geographies, and to introduce unique cross-border value transfer products between these geographies.
For more information, please visit the company web site at www.emida.net or email firstname.lastname@example.org.
About GRP Partners
Founded in 1996, GRP Partners is a venture capital firm that specializes in investing in the following areas: financial services and technology, retail and consumer, retail technology and business and consumer services. With approximately $650 million under management, GRP Partners finances early-stage and late-stage companies with outstanding management teams.
The firm offers its proactive investment philosophy and industry knowledge to entrepreneurs to enable them to build highly successful businesses. GRP has funded innovative entrepreneurs who have changed the consumer landscape – companies that are household names today: Costco, Starbucks, PETsMART, Office Depot, Overture Services (acquired by Yahoo!), and P.F. Chang’s.
GRP Partners is based in Los Angeles and London.
About Stone Canyon Venture Partners, LP
Stone Canyon Venture Partners, LP is an $85 million SBIC venture capital fund located in Los Angeles. Its focus is on growth capital for business, primarily in the broadly defined consumer and media areas, and secondarily in energy and medical businesses. It typically invests $3 to $5 million in companies that have customer references and a well-defined plan to profitability.
Stone Canyon offers investment capital, financial relationships, creative deal-structuring, operational experience and a comprehensive list of industry contacts. The principals in Stone Canyon Venture Partners have an aggregate of over 100 years of experience in developing successful businesses. www.stonecanyonvp.com
About Richard L. Scott Investments, LLC
Richard L. Scott Investments, LLC was established in 1997 by Richard L. Scott, founder and former Chairman and CEO of Columbia/HCA Healthcare Corporation (later renamed HCA, Inc.), one of the world’s largest healthcare services companies. Since its founding in 1997, Richard L. Scott Investments, LLC has invested in companies in the following industries: transaction processing, financial services, manufacturing, cable network, recreation/leisure, mobile home & RV, network security, catalog retail, medical equipment, pharmacy retail and healthcare services. Richard L. Scott Investments, LLC makes leveraged buyout, recapitalization/restructuring and growth capital investments in companies with superior management, predictable cash flow, strong market share and growth potential.
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