Dubai-based company restructure sees new European headquarters, group CEO appointment and acquisition of Germany’s Elatec
Workz Group, the Dubai-based mobile security & IoT solutions provider, has today 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 with the consolidation of all Workz operations under this entity, the appointment of a new group CEO, and the acquisition of Elatec Card and Security Solutions in Germany.
The move will see the appointment of Stephane Fund as Workz Group’s new CEO. 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 personalization 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 Ltd has acquired the existing legal entities of Workz effectively consolidating UAE-registered Workz Media FZ LLC 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.
Commenting on the company restructure,
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 realization. We are delighted to welcome our new Group CEO, Stephane Fund as he has solid experience to lead Workz into our next phase of growth and development. His appointment together with the acquisition of Elatec CSS accelerates our growth across Europe and creates economies of scope and scale.
Brad Taylor, co-CEO, Workz Group
Workz has a great reputation within the industry and a very strong team. The consolidation of Workz Group as an Irish company with regional manufacturing and sales offices is designed to give Workz a global footprint whilst continuing to give our clients a highly effective, responsive and cost-efficient local service. The acquisition of Elatec CSS, with its talented and visionary management, provides a solid foundation from which we can rapidly expand our European operations, capabilities and product offerings over the next two years and I look forward to leading this great team.
Stephane Fund, CEO, Workz Group
Stephane Fund, CEO, Workz Group
Brad Taylor, co-CEO, Workz Dubai
Tor Malmros, co-CEO, Workz Dubai
Benedikt Leisten, Managing Director, Workz Europe
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