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INDUSTRIAL NEWS

Workz Group’s expansion plans to aid global growth strategy

Nov 14, 2018 3:03 PM

Dubai-based Workz Group a leading mobile security and IoT solutions provider has announced several expansion and restructuring initiatives aimed at driving its global growth in the mobile telecoms and...

Dubai-based Workz Group, a leading mobile security and IoT solutions provider, has announced several expansion and restructuring initiatives aimed at driving its global growth in the mobile telecoms and IoT sectors.  

These plans include the creation of Workz Group Telecoms Limited headquartered in Dublin, Ireland, with the consolidation of all Workz operations under this entity, the appointment of a new group chief executive officer, and the acquisition of Elatec Card and Security Solutions in Germany, said a statement.

The move will see the appointment of Stephane Fund as Workz Group’s new chief executive officer.  Fund, who was previously the founding owner and CEO of Simulity Labs, which was sold to ARM in 2017, will be responsible for leading Workz’s global businesses, forming new partnerships and raising growth capital.  

The company restructuring also includes the group’s first acquisition under Fund’s leadership of Elatec Card and Security Solutions (Elatec CSS). The card and security solutions provider, which has operations in Munich and a GSMA SAS-certified card personalisation and fulfilment facility in Bosnia and Herzegovina, will adopt the Workz brand name.  

In addition, Workz will also open an office in Dakar, Senegal which will be the company’s second in Africa following the launch of its Johannesburg base last year.   

Workz Group Telecoms has acquired the existing legal entities of Workz effectively consolidating UAE-registered Workz Media and Hong Kong-registered Workz International Ltd under the newly registered Irish company.  

These changes will see Workz adopt operations in Europe, Africa, Middle East and Southeast Asia as it positions itself as a global provider to mobile network operators, device manufacturers and IoT partners.

Workz Media co-chief executive officer Brad Taylor said: “Our goal is to be one of the top global players in mobile digital security, telecoms smart cards and managed services solutions for the IoT and mobile markets.”

“This restructure is a major step forward in this realisation. We are delighted to welcome our new group CEO, Stephane Fund as he has solid experience to lead our company into our next phase of growth and development,” he said.

“His appointment together with the acquisition of Elatec CSS accelerates our growth across Europe and creates economies of scope and scale,” he added.

Workz Group chief executive officer Stephane Fund added: “Our company has a great reputation within the industry and a very strong team.” – TradeArabia News Service

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