Following on itsstatedstrategy to support outward-looking and innovative companies, Eurobank EFG Group (“Eurobank EFG”) acquired a minority equity position in MLS Multimedia S.A. (“MLS”). MLS is one of the most dynamic technology companies in Greece with a strong export orientation.
Eurobank EFG acquired approximately 3 % of the shares of MLS and an option to purchase a further 550,156 shares (i.e. about 4 %). The investment in MLS is the fourth by Eurobank EFG following its investments in Chipita, Mesogeios S.A. and NGP Plastic.
MLS designs, manufactures and markets navigation devices (PND) and electronic educational aids such as interactive boards and educational multimedia. It is a leader in the Greek electronic navigation market and actively building a significant international presence. MLS is already active in Turkey and Chile and plans to expand soon in other rapidly growing economies.
MLS has developed a unique voice recognition technology utilized in MLS’ personal navigation devices marketed under the brand name MLS Talk & Drive. It has been consistently profitable over the last 5 years and has received several prizes and distinctions including the European Information Technology Grand Prize (1999) and the Kouros award from the Greek Enterprise Association (2010).
In the current challenging economic environment Eurobank EFG actively supports highly competitive and export-oriented Greek companies. Through its wholly owned subsidiary Eurobank Equities, it attracts capital from the private sector and provides both capital and expertise to export-oriented companies thus enabling them to contribute to the necessary outward growth of the Greek economy.