PRN: Edenred Joins With Partech International to Promote Innovation
Edenred Joins With Partech International to Promote Innovation [19-December-2011] PARIS, December 19, 2011 /PRNewswire/ -- In line with its Invent 2016 strategy to prepare its expansion into new territories, Edenred today announced a partnership with venture capital firm Partech International.
Edenred Joins With Partech International to Promote Innovation
PARIS, December 19, 2011 /PRNewswire/ --
In line with its Invent 2016 strategy to prepare its expansion into new territories, Edenred today announced a partnership with venture capital firm Partech International.
The Group is investing €15 million in the Partech International VI fund, which is raising an initial €100 million. The fund will invest in young, fast-growing companies involved in the digital economy and offering new web-based, e-commerce and e-marketing services as well as new payment media solutions.
The investment will enable Edenred to explore new opportunities in adjacent sectors. Edenred will also be able to track emerging developments, with the goal of anticipating changes that impact its shareholders: client companies, employees and affiliates.
Through its support for high potential companies, Edenred - in keeping with its pioneering spirit - has made innovation a priority driver of future growth.
Edenred, which invented the Ticket RestaurantÂ® meal voucher and is the world leader in prepaid corporate services, designs and delivers solutions that make employees' lives easier and improve the efficiency of organizations.
By ensuring that allocated funds are used as intended, these solutions enable companies to more effectively manage their:
The Group also supports public institutions in managing theirÂ social programs.
Listed on the NYSE Euronext Paris stock exchange, Edenred operates in 40 countries, with 6,000 employees, nearly 530,000 companies and public sector clients, 1.2 million affiliated merchants and 34.5Â million beneficiaries. In 2010, total issue volume amounted to €13.9Â billion, of which 55% was generated in emerging markets.
Ticket RestaurantÂ® and all other tradenames of Edenred products and services are registered trademarks of Edenred SA.
Company Codes: Bloomberg:EDEN@FP, RICS:EDEN, ISIN:FR0010908533