As announced, the UMT United Mobility Technology AG (WKN 528 610, ISIN DE0005286108) expands its international investment portfolio towards Turkey. Following the successful positioning within the Italian and Spanish market in the previous year, the UMT AG is going to set up another subsidiary in Istanbul in which it holds at 51%.

The new subsidiary - UMT Turkey - will analogous to the other portfolio companies, in addition to the strategic investment business, accompany the rollout of iPAYst in Turkey. For this task, the UMT AG was able to win a strong partner, the internationally renowned advertising and marketing agency Ketchup (www.ketchupagency.com). Ketchup is an Istanbul based company specialized on the Loyalty segment (Customer Loyalty Programs) with a very large customer network including companies as Coca Cola, BP, Vodafone, ERGO, Akbank, Volvo and Danone. Ketchup will hold 49% of the newly found company and provide strong support the operational business. An additional direct participation of Ketchup is currently being evaluated.

 "We are very pleased to have such a strong international partner on our side for the future. The Loyalty area is extremely important for us and rounds off the business model of enabling ‘Sales, Payment and Loyalty’ in the field of mobile technology. With the establishment of the new Turkish subsidiary, we create the perfect platform for this. I am also very pleased that Mr. Onur Yalcin, who is already CEO of Ketchup, will lead the operational business of UMT Turkey in Istanbul as the future CEO", constitutes Dr. Albert Wahl, CEO of UMT AG, this strategic move".

 

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