Lleida.net to approve the purchase of 5% of the Spanish sta

Madrid, March 26.- The IT company Lleida.net (BME: LLN; EPA: ALLLN)  yesterday approved the purchase of 5% percent of FoxID, a cybersecurity start-up  company specialized in the detection of fraud and identity theft worldwide.

The transaction will be carried out within the framework of a capital increase of the company, of which Lleida.net will subscribe 150,000 euros.

FoxID, based in the Madrid region, offers a solution that ensures maximum security in the verification of official documents issued by more than 150 countries.Through a system of controls, it certifies the authenticity of documentation offering 99.99%. of reliability

This investment falls within the scope of Lleida.net program to invest in companies with high growth potential in the certification and electronic contracting segments.

"The esignature market will grow exponentially in the coming years and we will continue to have a strong position on the market to become a global leader in that industry," explained Sisco Sapena, CEO and founder of the company.The investment in Foxid is a further important step in this growth strategy, and we are certain that it will not be our last investment, "he said.

In addition to an aggressive internationalization and acquisitions plan, the company's expansion strategy includes strengthening its intellectual property initiatives.

In particular, the number of patents granted worldwide on certification methods amounts to 103, and more than 70 countries already recognize the legal validity of Lleida.net's electronic methods as a way to certify legal notifications in processes of contracting.

During 2018, the listed company recorded a turnover of 12.36 million euros, 25% more than the previous year.

In 2018, its staff grew by 21%, mainly in the R & D departments and in the establishment of a new department of Intellectual Property (IP).

At the end of the year  Lleida.net became the first Spanish company to quote on a dual basis in the MAB and in Euronext Growth, in Paris.

Likewise, during 2018, the company became the first and the only Spanish supplier and the sixth in Europe to obtain the type approval of qualified electronic registered delivery service of the EIDAS regulation.

The company's shares closed yesterday at the French market at 1.21 euros per share, while at the MAB closed at 1.18 euros.

Stock capitalization of the company amounts to 19 million euros.