Veirano Advogados acted for Valid and its Spanish subsidiary on the acquisition of a 5% stake in Ireland-based Cubic Telecom.
Valid Soluciones Tecnológicas is a global technology provider for identification, data, mobile and financial markets. The company is headquartered in Brazil and publicly traded in BOVESPA.
Cubic Telecom is based in Dublin, Ireland, and it specialises on mobility solutions that power connectivity for Internet of things (IoT), machine-to-machine (M2M) and mobile providers.
The transaction, valued at €10 million, gives Valid a 5% stake in Cubic and access to a partnership in developing next generation eSIM technology for the IoT and automotive industries.
Partner Carlos Alexandre Lobo led the team at Veirano providing Brazilian counsel to Valid and its Spanish subsidiary, which also retained A&L Goodbody as local counsel in Ireland.
Cubic Telecom instructed Arthur Cox in Ireland.